TORONTO, June 28, 2017 /CNW/ - Home Capital Group Inc. ("The Company"TSX: HCG) announced that Justice Raikes of the Ontario Superior Court of Justice issued an order today certifying an action as against the Company and certain of its former officers as a class action for settlement purposes only.
The class consists of all persons and entities wherever they may reside who acquired common shares of the Company from November 5, 2014 through to and including July 10, 2015. The Court ordered that any class member who wishes to exclude him, her or itself from this settlement, must do so by submitting an opt-out election on or before August 8, 2017 to the class action administrator, RicePoint Administration Inc.
The settlement is part of a global settlement to resolve the action and related enforcement proceeding by Staff of the Ontario Securities Commission ("OSC"). In order for the settlement to take effect, there must be final approval by the Court of the settlement of the class action and by the OSC of the settlement of the regulatory proceeding. The hearing to approve the OSC settlement is scheduled for August 9, 2017 and a hearing to approve the class action settlement is scheduled for August 21, 2017. More information about the class action settlement is available at http://www.siskinds.com/home-capital-group-inc/.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Please refer to the Home Capital's 2016 Annual Report, available on Home Capital's website at www.homecapital.com, and on the Canadian Securities Administrators' website at www.sedar.com, for Home Capital's Caution Regarding Forward-looking Statements.
About Home Capital Group Inc.
Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of insured residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through its direct to consumer deposit brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
SOURCE Home Capital Group Inc.
For further information: Investors: Laura Lepore, Assistant Vice President, Investor Relations, (416) 933-5652, [email protected]; Media: Boyd Erman, Longview Communications Inc. (416) 649-8007 [email protected]; or Peter Block, Longview Communications Inc., (416) 649-8008, [email protected]