Notice of Settlement Approval of the Guestlogix Inc. Securities Class Action
Read this notice carefully as it may affect your rights. You may need to take prompt action
TORONTO, Aug. 17, 2020 /CNW/ - If you acquired securities in Guestlogix Inc. ("Guestlogix") between June 8, 2015 to and including November 12, 2015 (the "Class Period"), and held some or all of those securities at the close of trading on November 12, 2015 (the "Class" and "Class Members"), then this Notice is for you.
A Settlement has been reached in a class action against Guestlogix and two of its former officers, Brett Proud and Patrick Leung. The lawsuit alleged that during the Class Period, the Defendants made or authorized the making of misrepresentations and/or omissions of material fact regarding credit facilities that Guestlogix had entered into and in regard to financial covenants pertaining to those credit facilities.
The Defendants have agreed to pay or cause to be paid CAD $1,275,000 to settle the class action. The settlement is a compromise of disputed claims and is not an admission of liability or wrongdoing by the Defendants.
The settlement has been approved by the Ontario Superior Court of Justice (the "Court"). The Court has appointed Spark LLP ("Class Counsel") as the Administrator of the Settlement.
To be eligible to receive part of the Settlement funds, Class Members must submit a completed Claim Form to Class Counsel no later than Tuesday, November 17, 2020 at 11:59pm.
The Ontario Superior Court of Justice has authorized distribution of this Notice.
Questions about this Notice should NOT be directed to the Court
SOURCE Spark LLP
For more information, see the Long-Form Notice of Settlement Approval, available online at www.spark.law/Guestlogix or email [email protected] or call toll-free at 1-866-203-6184
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