Westport Fuel Systems Inc. is providing a bi-weekly status update on its management cease trade order, issued due to a delayed annual filing caused by a cybersecurity incident, with the investigation now concluded and audit activities underway.
Key takeaways
A management cease trade order (MCTO) was issued on April 1, 2026, due to the delayed filing of the company's 2025 annual financial statements and related documents.
The filing delay resulted from a cybersecurity incident announced on March 20, 2026, with the investigation now concluded and internal controls deemed not deficient.
The MCTO restricts trading in the company's securities by the CEO and CFO but does not affect other shareholders or investors.
Westport must file bi-weekly status reports until the annual filings are completed and plans to issue them as soon as possible.
The company confirms no material changes since the initial announcement and does not anticipate further defaults under securities regulations.