TORONTO, March 6, 2012 /CNW/ - In the case of Virginia Nelles
(representing clients of Earl Jones) v. RBC, RBC is pleased to have
reached a negotiated settlement agreement, pending approval by the
Superior Court of Québec, of the Re-Amended Class Action.
RBC has closely examined its role in providing Earl Jones with a bank
account and is satisfied that it was not negligent. The proposed
settlement amount of $17 million is the result of many months of
discussion between RBC and the class-plaintiffs and seeks to address
some of the financial difficulties the class-plaintiffs faced as a
result of entrusting Mr. Jones with their financial affairs.
The proposed settlement amount will not be final until the court
approval process is completed and is not material to RBC earnings.
For further information:
Rina Cortese, Media Relations, RBC, (416) 974-5506, email@example.com