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Yorkton Securities
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Class Action against Yorkton Securities
Important Information:
It is no longer possible to register a claim as the claim Submission Deadline
has passed. Please note that the Distribution to the class members will be
mailed shortly. Please contact the Administrator, if you are a class member,
and have not received your payment from the Distribution by November 30, 2006,
or have any other questions at 1 866 669 - 6615."
Background
A class action was commenced in Ontario against Yorkton Securities Inc.,
Yorkton Financial Inc. (formerly Yorkton Holdings Limited) ("Yorkton") and
Gordon Scott Paterson and the third parties, Philip A. Deleon, Rogert Dent,
Alain Lambert, Harry McCullough, OnX Incorporated, Sheldon M. Pollack, Kurt
Portman and W. Carter Siebens, alleging that they are liable to the class
members who suffered a net loss in trading in Book4Golf.com corporation
("Book4Golf"). The fresh statement of claim may be reviewed
here.
2. The class is defined as each and every person wherever resident, except
excluded persons, who, during the period of October 4, 1996 to June 26, 2002,
were retail clients of Yorkton and who purchased shares of Book4Golf on the
secondary markets for their Yorkton account(s) (the "Class").
3. A settlement was reached among the parties. The settlement agreement can be
reviewed here. The notice of the
settlement approval can be reviewed here.
4. On January 10, 2006, Mr. Justice Winkler of the Superior Court of Justice
for Ontario approved the settlement. His handwritten reasons can be reviewed
here.
5. The settlement agreement provides that the Class Members may recover 16.44%
of their losses. Yorkton and Mr Paterson also pay the cost of notification,
administration and distribution of the settlement funds. Class counsel was paid
$650,000 in full settlement of the defendants' obligations to pay counsel fees,
disbursements and applicable taxes.
6. Further information concerning the settlement and the administration can be
found at www.book4golfclassaction.com
7. If you would like to know more about how a class action works, click
here.
IMPORTANT NOTE:
This website has been developed to provide general information to potential
class members.
The site is not designed to answer questions about your individual situation or
entitlement. Do not rely upon the information provided on this website as legal
advice in respect of your individual situation nor use it as a substitute for
individual legal advice.
The information collected about potential class members will assist counsel in
prosecuting the class action and assessing what damages were suffered by the
class as a whole. Providing the information requested does not make you a
client. The court will ultimately decide who will be included as a class
member.
This website will be updated from time to time to provide potential class
members with information as it becomes available. |
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