American law firms are investigating claims from investors in Regina-based Above Food Ingredients Inc. of potential securities fraud.
At least three firms issued notices late last year about the company, which trades on Nasdaq, and suggested they may file class actions on behalf of investors.
They encouraged investors to contact them to discuss their options.
Pomerantz LLP is one of the firms investigating whether Above Food, its officers and/or directors engaged in securities fraud or other unlawful business practices, said its release.
“On Dec. 2, 2025, Above Food disclosed that its auditor had, ‘upon the request of the company,’ resigned in July,” said Pomerantz.
“On this news, Above Food’s stock price fell $0.23 per share, or 7.67 per cent to close at $1.69 per share on Dec. 19, 2025.”
Trading of Above Food stock was suspended and the company delisted last May after the share price fell below the minimum $1 bid price. The company regained compliance with Nasdaq rules in June.
Ernst & Young was its auditor until resigning July 15.
Above Food said in December its audit for the fiscal year ending Jan. 31, 2025, was “progressing well towards completion.”
However, the timetable was affected by “unavoidable illness-related resourcing challenges.” and the company applied for a 180-day extension.
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