The settlement agreement in this action was approved on September 22, 2022. The settlement achieved in this litigation was $1.4 million. The Representative Plaintiff, Class Counsel, and the Coast Capital believe that this is a fair settlement, taking into account all the strengths, weaknesses, and risks of the case.
The Settlement Funds, plus interest, and less court-approved legal fees, disbursements, administration expenses, and applicable taxes (the “Net Settlement Amount”), will be available for compensation to Class Members who have not opted out of the Class Action.
If you opted out of this Class Action, you will not be entitled to participate in the claims process. Please note that Class Counsel does not represent anyone who opted-out and therefore Class Counsel will not be advocating on behalf of such individuals.
For Class Members who have not opted out, the value of each Class Members’ claim for the purpose of determining their share of the Net Settlement Funds will be calculated based on: (a) the date of the foreign currency withdrawal, and (b) the dollar value of the withdrawal. A copy of the Settlement Administration and Distribution Plan which outlines more information can be found here:
The claims process is now closed.
A copy of the publication notice can be found here:
Coast Capital Foreign Exchange - View
Coast Capital Forex: Proposed Foreign Currency Surcharge Class Action - View