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Class Action Updates

January 17, 2019

A national settlement has been reached with Morgan Stanley for USD$2.3 million, subject to court approval in Ontario and Quebec.  At the approval hearings, the…

December 7, 2018

On November 8, 2018, the BC Court approved a motion to certify the within action as against MinebeaMitsumi Inc. (formerly Minebea Co. Ltd.), NMB Korea,…

November 26, 2018

A national settlement, totaling $3.25 million has been reached with FMC Corporation and FMC of Canada, Ltd. (collectively “FMC”). The FMC settlement approval motion will…

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INFORMATION FOR LAWYERS LOOKING FOR LEGAL EXPERTISE IN BC AND CANADA

8. Why did you agree to this settlement?

As Class Counsel, we do not agree to a settlement – but we do recommend that clients agree to a settlement if we think it is a good idea.

As described in the answer to FAQ#7, the settlement amount is not “calculated” in the sense that most people would understand.

We recommended this settlement because:

  • the settlement amount of $4M (plus up to $300,000 to cover the expenses incurred on behalf of the class members in the course of the litigation) is within the range of reasonable outcomes at trial;
  • there were lots of risks if we had gone to trial (see FAQs #10-14), which means that while we might have gotten more after a trial, we might also have gotten much less or nothing at all; and
  • there is a benefit in getting the money sooner (now) instead of having to wait for the end of a trial and possible appeals (see FAQ#13).

Posted in: Questions about the Settlement Agreement, Teck/Cominco Class Action FAQs

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