BC Court of Appeal Reasons – August 19, 2015

The plaintiffs have reached additional settlements with the Citigroup and Capital One defendants. On August 20, 2015, the BC Court certified the BC Action against Citigroup and Capital One for settlement purposes only. The action was previously certified against Bank of America for settlement purposes only.

The settlements must be approved by the courts in order to become effective.

The settlement approval hearings will be held:

• in Vancouver on November 9, 2015 at 10:00 a.m. (British Columbia Supreme Court)
• in Edmonton on November 10, 2015 at 10:00 a.m. (Alberta Court of Queen’s Bench)
• in Regina on November 12, 2015 at 10:00 a.m. (Saskatchewan Court of Queen’s Bench)
• in Toronto on November 19, 2015 at 10:00 a.m. (Ontario Superior Court of Justice)
• in Montreal on November 23, 2015 at 2:15 p.m. (Quebec Superior Court)

A copy of the Notice to class members regarding certification, settlement approval and how to opt-out of the class action can be found under important documents.

Court of Appeal Reasons

On August 19, 2015 the BC Court of Appeal issued reasons for judgment in relation to the appeals of the certification against all parties. A copy can be found under important documents. The Court of Appeal upheld most of the BC Supreme Court’s decision to certify the BC Action as a class proceeding against all defendants, except Desjardins. Certification against Desjardins will be reconsidered by the BC Supreme Court.

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