Active Class Actions

CLASS ACTION FAQ

REFERRALS

INFORMATION FOR LAWYERS LOOKING FOR LEGAL EXPERTISE IN BC AND CANADA

Coast Capital Forex

Case Name:

Eric Finkel v. Coast Capital Savings Credit Union

Court:

Supreme Court of British Columbia

Date Filed:

August 28, 2013

Class Members:

Members of Coast Capital who are residents of British Columbia and used their Coast Capital member card to make a foreign currency withdrawal from their personal Coast Capital account through an automated teller machine (“ATM”) on the Plus System or the Cirrus System outside Canada from August 28, 2007 to August 31, 2015, except for Coast Capital members who are part of the Subclass.

Subclass Members:

Members of Coast Capital who are residents of British Columbia and used their Coast Capital member card to make a foreign currency withdrawal for purposes that were primarily personal, family or household from their personal Coast Capital account through an ATM on the Plus System or the Cirrus System outside Canada from August 28, 2007 to August 31, 2015.

Class Period:

From August 28, 2007 to August 31, 2015

VIEW STATUS UPDATES

SETTLEMENT

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:

CLAIMS PROCESS

The claims process is now closed.

A copy of the publication notice can be found here:

Coast Capital Publication Notice

Coast Capital Forex - Status Updates:

January 10, 2020

Coast Capital Foreign Exchange - View

June 10, 2014

Coast Capital Forex: Proposed Foreign Currency Surcharge Class Action - View