LONDON, ON, Jan. 12, 2019 /CNW/ - A settlement has been reached in class actions against SNC and certain of its former officers and directors alleging misrepresentations made in certain of SNC-Lavalin's public disclosures released between November 6, 2009 and February 27, 2012.
SNC and its insurer have agreed to pay the Plaintiffs the all-inclusive amount of CAD$110,000,000 to settle the class actions. The settlement is a compromise of disputed claims and is not an admission of liability or wrongdoing by SNC or any of the other Defendants.
The settlement has been approved by both the Ontario and Québec Courts. The Courts have appointed RicePoint Administration Inc. as the Administrator of the settlement. To be eligible for compensation, Class Members must submit a completed Claim Form to the Administrator no later than May 13, 2019. If you do not file a claim by this deadline, you may not be able to claim a portion of the settlement and your claim will be extinguished.
For more information, see the long-form notice available online at snclavalinclassaction.com or call toll-free at: 1-866-447-6214.
SOURCE Siskinds LLP