On August 21, an Ontario court approved the settlement of a $29.5-million class-action lawsuit by investors against alternative mortgage lender Home Capital Group Inc.
And now, in a September 22 release, Siskinds LLP says the settlement amount will be “paid for the benefit of affected class members.” It adds the settlement is a compromise of disputed claims and is not an admission of liability or wrongdoing by HCG or any other defendant named in the action.
Siskinds LLP adds those who acquired Home Capital Group Inc. shares between November 5, 2014 and July 10, 2015 may be eligible for compensation. In order to recover any such compensation, individuals must submit a completed claim form to RicePoint Administration Inc., no later than January 22, 2018.
If individuals don’t submit a claim form by then, they will not be entitled to any compensation, says Siskinds LLP. Further, unless they have previously opted out, they will not be entitled to pursue any other action in respect of those claims.