The Class Action
In 2011, the plaintiffs commenced proposed class actions against Armtec Infrastructure Inc, (“Armtec), certain of its officers and directors and certain underwriters alleging that Armtec misrepresented the sustainability of Armtec’s dividends. The actions were certified on consent as part of a negotiated settlement.
On May 27, 2014 Justice Patterson of the Ontario Superior Court of Justice approved the settlement. On June 19, 2014 Justice Emond of the Quebec Superior Court approved the settlement. A copy of the settlement agreement, the Approval Order, the Plan of Allocation, and other court-approved documents, may be downloaded from the Documents page of this website.
The “Class” or “Class Members” means all persons, other than Excluded Persons, who acquired Armtec securities, either pursuant to the prospectus or on the secondary markets or both, during the period, March 24, 2011 to and including June 8, 2011, and who held some or all of those securities at the close of trading on June 8, 2011.
A member of the Ontario Class is defined as an individual, not resident in Quebec, or an institution, with 50 or more employees, resident in Quebec.
A member of the Quebec Class is defined as an individual or an institution with less than 50 employees, resident in Quebec.
The Settlement Administrator
The Courts appointed Marsh Risk Consulting Canada (“Marsh”) as the Settlement Administrator to, among other things, receive and process claims, decide eligibility for compensation, and distribute the net settlement funds to eligible Class Members.