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Cineplex Inc
Symbol CGX
Shares Issued 63,500,028
Close 2024-10-24 C$ 10.24
Market Cap C$ 650,240,287
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Globe/CP say Cineplex appeals "drip pricing" decision

2024-10-25 08:08 ET - In the News

The Globe and Mail reports in its Friday edition that Cineplex has launched an appeal of a record $38.9-million fine for deceptive marketing practices imposed by the Competition Tribunal. A Canadian Press dispatch to The Globe reports that Cineplex filed notice with the Federal Court of Appeal on Wednesday, vehemently denying it engaged in "drip pricing" and asking for a stay of the fine pending completion of the case. Cineplex said it has been granted an interim stay until the motion is heard by the judicial panel. The fine came down as part of a decision the tribunal issued in September that found the company used drip pricing and misled customers on its website, breaching the Competition Act. The Competition Bureau first opened the case in May, 2023. The watchdog accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats on-line. In its filing, the company said the tribunal erred in finding its website and mobile app "false and misleading," given that the total ticket price -- excluding taxes -- was "prominently displayed to the consumer on the first page of the ticketing process upon selecting the number of tickets."

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