Class Action Certified in Buckingham Securities/Miller Bernstein Litigation

TORONTO, July 23 /CNW/ - By an order dated July 20, 2010, Justice Cullity of the Ontario Superior Court of Justice ordered that an action relating to the 2001 collapse of Buckingham Securities Corporation ("Buckingham") and the alleged failure of Buckingham to properly segregate client funds be certified as a class action. The statement of claim alleges that Miller Bernstein LLP ("Miller") failed to properly discharge its duties as Buckingham's auditors and that this failure caused losses to the Class Members. Miller disputes all of the allegations contained in the Statement of Claim and intends to defend itself against them.

The Class was defined as each and every person, wherever resident, except the Excluded Persons, who created or maintained an investment account with Buckingham at any time after March 17, 1997 through July 26, 2001 (the "Class Period") and who maintained such an investment account on July 6, 2001, including, without limiting the foregoing, those persons who filed claims in the receivership of Buckingham (the "Class"). Further detail is available at www.classaction.ca/content/actions/millerbernstein.asp.

Among the issues the court approved for determination are whether Buckingham was required to segregate funds but failed to do so, whether Miller owed a duty of care to the Class, whether that duty was breached and whether the Class was damaged by that breach.

All Buckingham investors are encouraged to visit www.classaction.ca or call Nicholas Baker at 1 [phone] ext. 2383.

For further information: Daniel Bach at [phone] or Michael Peerless at [phone]