CLASS ACTION: EIGHT YEARS NO RETURN ON INVESTMENT FOR INVESTMENT PRODUCTS SOLD BY DESJARDINS FINANCIAL SECURITY

(SUPERIOR COURT OF QUEBEC No. 200-06-000134-117)

QUEBEC, June 16, 2011 /CNW Telbec/ - Messrs Jean-Paul Dupuis and Francis Tremblay are among the thousands of investors who bought, from Desjardins Financial Security, Life Insurance Company, investment products called « Strategic Index Plus » and « Tactical Index Plus ».

Although publicized as very secure and low risk products, Desjardins' investment strategies involved high leverage with the result that during the fall of 2008 Desjardins Financial Security was forced to liquidate that part of the funds dedicated to producing returns on these investments.

As a result, the investors haven't received any returns since 2008. Many are stuck with maturity dates ranging up to July 1st, 2016 which means that some investors will have received no returns for a period ranging up to eight years.

Messrs Jean-Paul Dupuis and Francis Tremblay have now filed a class action against Desjardins Financial Security seeking the reimbursement of the funds invested plus interest and damages.

This class action concerns all persons who held, on December 31st, 2008, investment products Strategic Index Plus or Tactical Index Plus issued by Desjardins Financial Security.

All concerned persons may, if they wish, provide us with their relevant information by completing the form that can be obtained by consulting Messrs. Jean-Paul Dupuis and Francis Tremblay's lawyers' web site at www.paquettegadler.com.

For any additional information regarding the present press release, you are invited to contact anyone of the lawyers of the petitioners listed below or to consult their web site.

SOURCE Paquette Gadler inc.

For further information:

1) For French electronic media
Mtre François Lebeau
UNTERBERG, LABELLE, LEBEAU SENC
Counsels for petitioners 
Tel. 514-934-0841
www.recours-collectifs.ca
  3) For written press
Mtre Serge Létourneau
LÉTOURNEAU GAGNÉ s.e.n.c.r.l. 
Counsels for petitioners 
Tel. 1-866-692-6697
www.letourneaugagne.ca
     
2) For English electronic media
Mtre Paul G. Unterberg
UNTERBERG, LABELLE, LEBEAU SENC
Counsels for petitioners 
Tel. 514-934-0841
www.recours-collectifs.ca
   4) For any other questions :
Mtre Guy Paquette
PAQUETTE GADLER INC.
Attorneys ad litem for petitioners 
Tel. 514-849-0771
www.paquettegadler.com

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