Did you purchase shares of SNC-Lavalin ("SNC") between November 6, 2009 to and including February 27, 2012? Français
TORONTO, Oct. 1, 2018 /CNW/ - A settlement has been reached in the class actions against SNC and certain of its former officers and directors alleging misrepresentations made in certain of SNC-Lavalin's public disclosures released between November 6, 2009 and February 27, 2012. The settlement provides for the payment by SNC and its insurers of the total amount of CAD $110,000,000 to resolve those claims. The settlement is a compromise of disputed claims and is not an admission of liability or wrongdoing by SNC or any of the other Defendants.
The Settlement must be approved by both the Ontario and Québec Courts. Settlement approval hearings have been set for October 31, 2018 in Toronto and November 23, 2018 in Montreal. At the hearings, the Court will be asked to approve the settlement and also address motions to approve Class Counsel's fees, which will not exceed 23% of the recovery plus reimbursement for expenses incurred in the litigation.
Class Members may express their views about the proposed settlement to the Courts. If you wish to do so, you must act by October 17, 2018. For more information about your rights and how to exercise them, see the long-form notice available online at https://www.siskinds.com/snc-lavalin-group/ or www.rochongenova.com. Alternatively, call toll-free: 1-877-672-2121, ext 2206 or 1-866-881-2292.
SOURCE Siskinds LLP
Share this article