Did you acquire securities of Reliq Health Technologies Inc. between February 23, 2018 and October 15, 2018 (inclusive) or acquire units in the Reliq private placement that closed around January 9, 2018?
LONDON, ON, Jan. 24, 2022 /CNW/ - A settlement has been reached in a class action against Reliq Health Technologies Inc. ("Reliq") and certain of its current and former officers and directors. The class action alleges that there were misrepresentations in certain of Reliq's public disclosures and in documents provided to investors to solicit their investment in a private placement that closed on or around January 9, 2018.
The settlement provides for payments by the defendants in the class action and their insurers of the total amount of CAD$2,500,000 to resolve those claims. The settlement is a compromise of disputed claims and is not an admission of liability or wrongdoing by Reliq or any of the other defendants.
The settlement must be approved by the Supreme Court of British Columbia. A settlement approval hearing has been set for April 14, 2022. At the hearing, the Court will also address an application to approve Class Counsel's fees, which will not exceed 30% of the recovery plus reimbursement for expenses incurred in the ligation.
The Court has appointed RicePoint Administration Inc. as the Administrator of the settlement. To be eligible for compensation, Class Members must submit a completed Claim Form to the Administrator by no later than 11:59 pm Vancouver (Pacific) time on July 21, 2022. If the settlement is approved, and if you do not file a claim by this deadline, you may not be able to claim a portion of the settlement and your claim will be extinguished.
If you do not want to be part of this class action and be bound by the terms of the settlement, you must opt out by 11:59 pm Vancouver (Pacific) time on March 23, 2022.
Class Members may also express their views about the proposed settlement to the Court. If you wish to express your views, you must do so in writing by March 31, 2022.
For more information about the certification of the class action, who qualifies as a class member, the settlement, how to make a claim for compensation from the settlement, and your rights to opt out of the class and the Settlement or object to the Settlement, see the long-form notice available online at www.siskinds.com/class-action/reliq-health-technologies-inc/ or call toll free at 1 (800) 461-6166 ext. 7802.
SOURCE Siskinds LLP
Share this article