The Class Action
In 2013, a proposed class action was commenced against Aurcana Corporation (“Aurcana”) and certain others. The plaintiffs alleged 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.