The Class Action
In 2013, a proposed class action was commenced against Aurcana Corporation (“Aurcana”) and certain others. The plaintiffs allege that the defendants knew, or ought to have known, that the stated resource levels of and the production at the Shafter Mine were false or misleading.
On April 10, 2015, Justice Patterson of the Ontario Superior Court of Justice approved the settlement. A copy of the settlement agreement, the approval order, the plan of allocation, the notice summarizing the settlement 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 an Excluded Person or an Opt-Out Party, who acquired Eligible Securities during the Class Period, June 24, 2011 to and including December 19, 2013.
The Court appointed Marsh Risk Consulting Canada (“Marsh”) as the Administrator to, among other things, receive and process claims, decide eligibility for compensation, and distribute the net settlement funds to eligible Class Members. The Administrator’s contact information is provided on the Contact page of this website.
Participating in the Settlement
To participate in the distribution of compensation as a result of the settlement, you should file a Claim if you purchased common shares or warrants of Aurcana during the Class Period.
Each Class Member must submit a completed Claim and supporting documents (the “Claim Package”) to the Administrator, on or before 5:00 pm (Eastern) on August 18, 2015 in order to participate in the settlement. If you do not submit a completed Claim by August 18, 2015, you will not receive any part of the settlement funds.
Claims should be registered using the Claims System.
Paper claim forms are available from the Administrator if a Class Member does not have access to a computer with Internet connectivity.
Opting Out of the Settlement
If you do not want to participate in the settlement you must file an Opt-out Form. The deadline for receipt of a properly completed opt-out form is June 19, 2015 at 5:00 p.m. (Eastern). The deadline has passed; it is no longer possible to opt out of the Settlement.
Answers to Frequently Asked Questions
The Frequently Asked Questions page of this website provides answers to questions about the settlement and the claims process.
Please visit this website regularly as it will be updated with news and Court-approved documents throughout the administration of the Aurcana settlement.