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Class Action Updates

November 23, 2020

Claims process for settlement funds – make a claim now. If you are a Canadian resident as of May 25, 2016 who, between December 23,…

September 25, 2020

CFM is co-counsel in the recent proposed class action lawsuit filed in Vancouver against Google, its parent company and its subsidiaries, on behalf of Canadian…

August 26, 2020

The British Columbia ODD class action has been certified for settlement purposes as against the TSST Defendants.  

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INFORMATION FOR LAWYERS LOOKING FOR LEGAL EXPERTISE IN BC AND CANADA

26. I lost a lot more money than the amount my letter says I am getting from the settlement. Why is that?

There are a few reasons why you are not getting the same amount of money as you think you lost.

One main reason is that the law requires us to assume that everyone acted reasonably. In particular, we have to assume that everyone invested reasonably (see FAQ#22-23). We assumed that everyone invested using the default investment that was recommended for anyone who was not comfortable making their own investment decisions. This makes it a reasonable place to have invested.

Another main reason is that, if we had gone to trial, Teck Metals/Cominco and Towers would only have to pay for losses that are their fault. The settlement funds are divided on the basis of what is fair to everyone and what people would likely have gotten at trial. If you lost more money than that because of something like your investment decisions, that is not Teck Metals’/Cominco’s or Towers’ fault.

A third important reason is the risks that apply to different class members. See FAQs #10-14 for more information.

A fourth reason is that the amount of money in the settlement is fixed, and must be divided among everyone. This means that no-one is getting the total amount that they lost.

Posted in: Questions About Sharing in the Settlement Funds (Distribution Protocol Questions), Teck/Cominco Class Action FAQs

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