Notice of Certification of Southern China Livestock Inc. Class Action as a Class Proceeding
This Notice may affect your rights. Please read it carefully.
ATTENTION: All persons or entities who purchased investment units of Expedite 4, Inc. now known as Southern China Livestock Inc.
TORONTO, Aug. 16, 2017 /CNW/ -
THE CLASS ACTION
A class proceeding has been certified by the Court of Appeal for Ontario against the audit firm Schwartz Levitsky Feldman LLP on behalf of the Class of all persons or entities who purchased investment units ("Units") of Expedite 4, Inc. between March 29, 2010 and December 23, 2010, and who continued to hold any of the shares or warrants comprising the Units as of December 23, 2010, other than Excluded Parties where the Excluded Parties are:
| (i) |
Schwartz Levitsky Feldman LLP (the Defendant), including its partners, employees, successors and assigns; |
| (ii) |
the officers, directors, employees, agents, legal representatives, subsidiaries, affiliates, predecessors, successors and assigns of Expedite 4, Inc., Southern China Livestock International Inc., or Southern China Livestock Inc., and any entity in which any of the foregoing have or had any legal or de facto controlling interest; and |
| (iii) |
Rodman & Renshaw LLC and Newbridge Securities Corporation (together the "Placement Agents"), including their officers, directors, senior management employees, predecessors, successors and assigns. |
The lawsuit seeks, among other things, an order requiring the Defendant to pay to the Class Members as damages the total amount that each Class Member paid to acquire Units of Expedite 4, Inc.
The Defendant denies the allegations made in the action. By certifying this action as a class proceeding, the Court has made no determination of the merits of the Plaintiff's claims or the Defendant's denials. The Plaintiff will be required to prove its allegations at a trial in order to obtain the relief that it seeks for the Class.
THE CERTIFICATION ORDER
The Court of Appeal for Ontario certified the action Excalibur Special Opportunities LP v. Schwartz Levitsky Feldman LLP, Court File No. CV-12-466694-00CP as a class proceeding (the "Class Action") on December 6, 2016, with leave to appeal to the Supreme Court of Canada denied on June 8, 2017. Excalibur Special Opportunities LP is appointed as the representative plaintiff on behalf of the Class.
If you are a member of the Class, your rights will be affected by this order.
Each member of the Class will be bound by the terms of any judgment or settlement unless they exclude themselves from the Class by "opting out", as explained below. Each member of the Class may be entitled to share in the amount of any judgment awarded or settlement reached in the Class Action.
LEGAL FEES AND DISBURSEMENTS
Counsel for the Class ("Class counsel") have entered into a contingency fee agreement with the representative Plaintiff with respect to legal fees and disbursements. The agreement provides that Class counsel will not receive payment for their work unless the Class Action is successful at trial, a settlement is achieved, or costs are received from the Defendants. The agreement, which must be approved by the court to be effective, provides for Class Counsel to be paid a contingency fee based upon a percentage of the amount recovered in the Class Action. Class Members will not be required to pay legal fees to Class Counsel, except as a percentage of any amount recovered. Class Members will not be liable to pay any costs to the Defendant or its lawyers for the class action.
CLASS MEMBERS MUST OPT OUT IF THEY DO NOT WISH TO PARTICIPATE IN THE CLASS ACTION
Class members who wish to participate in the Class Action need not do anything at this time. They are automatically included in the Class Action.
Class members who do not wish to participate in the Class Action must opt out.
If you wish to opt out of the Class Action, you must say so in writing by delivering a letter or notice, including your full name and address on or before November 14, 2017 at 5:00 pm EST to Class Counsel at the following address:
By prepaid mail or courier to:
Southern China Livestock Class Action
Paliare Roland LLP
155 Wellington Street West, 35th Floor
Toronto, ON M5V 3H1
Fax: 416-646-4301
No Class Member will be permitted to opt out after November 14, 2017.
ADDITIONAL INFORMATION
Any questions about the matters in this notice should be addressed to Class Counsel.
The certification order and other information regarding the Class Action is available on the website www.southernchinalivestockclassaction.com.
or may be obtained by calling: 1-855-204-4946
Requests for information or questions for Class Counsel should be directed to:
Southern China Livestock Class Action
Paliare Roland LLP
155 Wellington Street West, 35th Floor
Toronto, ON M5V 3H1
Fax: 416-646-4301
e-mail: [email protected]
INTERPRETATION
This notice is a summary of the terms of the certification order. If there is a conflict between the provisions of this notice and the terms of the certification order, the certification order prevails. The certification order can be viewed at the web address referenced above.
This notice was approved by the Ontario Superior Court of Justice.
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SOURCE Paliare Roland Rosenberg Rothstein LLP
Odette Soriano, 1-855-204-4946
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