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Westport Announces Issuance of Management Cease Trade Order
VANCOUVER, British Columbia, April 01, 2026 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. ( ...
About this update from Westport Fuel Systems, Inc.
[{"type":"text","content":"Westport Announces Issuance of Management Cease Trade Order\nVANCOUVER, British Columbia, April 01, 2026 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport\" or the “Company”) (TSX:WPRT / Nasdaq: WPRT) today announced that the British Columbia Securities Commission, the Company’s principal regulator, has issued a temporary management cease trade order (the “MCTO“) against the Company under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“). The MCTO restricts trading in the Company’s securities by the CEO and CFO, but does not restrict trading by other shareholders or investors. “On March 20, 2026, we announced that we had recently identified unauthorized access to certain internal systems and acted immediately to contain the incident, engaging cybersecurity experts and strengthening our safeguards,” said Dan Sceli, Chief Executive Officer of Westport. “Importantly, our core operations remain unaffected, with no disruption to manufacturing or customer delivery. As we complete a thorough review to ensure the integrity of our financial reporting, we remain focused on transparency. Notwithstanding this incident, we continue to execute on our strategic priorities and build on the progress achieved over the past year.” The Company voluntarily applied for the MCTO in connection with the Company’s delayed filing of its: (i) audited consolidated financial statements for the fiscal year ended December 31, 2025 (the “Annual Financial Statements“), (ii) management’s discussion and analysis relating to the Annual Financial Statements, (iii) CEO and CFO certificates relating to the Annual Financial Statements and (iv) annual information form on Form 20-F (collectively, (together, the “Annual Filings“), as a result of the cybersecurity incident previously announced by the Company on March 20, 2026. Each of the Annual Filings were required to be filed by March 31, 2026 under Canadian securities laws. In advance of filing the Company’s Annual Documents, Westport is working closely with its auditors to (i) assess and determine the scope of the cybersecurity incident with respect to the documents and data rel...