Frequently Asked Questions
Notice packages were sent out to the following:
|people who had registered with Siskinds LLP to receive updates;|
|people whose brokers identified them as having acquired shares of Agnico during the Class Period; and|
|people who were identified by Agnico’s transfer agent as having acquired shares of Agnico.|
If you did not acquire shares of Agnico during the Class Period, you can disregard the notice package.
In March 2012, the Plaintiffs, AFA Livförsäkringsaktiebolag, AFA Sjukförsäkringsaktiebolag, AFA Trygghetsförsäkringsaktiebolag, Kollektivavtalsstiftelsen Trygghetsfonden TSL (collectively referred to as AFA Insurance), and William Leslie commenced an action in the Ontario Superior Court of Justice (the “Ontario Action”) against Agnico Eagle Mines Limited (“Agnico”), as well as Sean Boyd, Eberhard Scherkus and Ammar Al-Joundi (the “Releasees”). In October 2012, the Plaintiff, Jean-Paul Delaire brought a similar action in the Quebec Superior Court (the “Quebec Action”). The claims being pursued in these actions are claims for damages or restitution for losses suffered as a result of Agnico’s alleged failure to disclose ongoing operational issues at its Goldex mine prior to the suspension of mining operations at the Goldex mine in October 2011.
The Class is defined as all persons, wherever they may reside or be domiciled, who acquired securities of Agnico Eagle Mines Limited (“Agnico”) either:
|over the TSX, Chi-X, Alpha, Omega, TriAct, TMX Select, Pure Trading, Liquidnet and Instinet Canada trading platforms between, and including, March 26, 2010 and October 18, 2011 (the “Class Period”); OR|
|in exchange for securities of Comaplex Minerals Corp. by way of a plan of arrangement pursuant to the Alberta Business Corporations Act completed on or around July 6, 2010,|
|and continued to hold some or all of those securities on one or both of July 28, 2011 and October 19, 2011 (the “Class Members”), except for Excluded Persons associated with the Defendants.|
You are excluded if you are any of the following: the Settling Defendant, the Individual Defendants and the Settling Defendant’s past and present subsidiaries, affiliates, officers, directors, senior employees, partners, legal representatives, heirs, predecessors, successors and assigns, and any member of the family of an Individual Defendant.
You are also excluded if you submitted a valid opt out by January 8, 2014.
The Settlement Agreement provides for the payment of CDN$17,000,000 (the “Settlement Amount”) by Agnico in consideration for full and final settlement of the claims of Class Members. The Settlement Amount includes all legal fees, disbursements, taxes and administration expenses. In return for the payment of the Settlement Amount by Agnico, Agnico and the Releasees will receive releases and a dismissal of the class actions. The Settlement is a compromise of disputed claims and is not an admission of liability, wrongdoing or fault on the part of Agnico or any of the Releasees, all of whom have denied, and continue to deny, the allegations against them.
Under the Plan of Allocation, each Class Member who has filed a valid claim will receive a portion of the Net Settlement Amount as set out in the Plan of Allocation
You must mail a valid Claim Form to the Claims Administrator, postmarked no later than May 20th 2016.
Read the instructions carefully, complete the form and include all the documents requested. Be sure to sign and mail the completed Claim Form to the Claims Administrator at the address found on page 1 of the Claim Form.
If you did not receive a Claim Form, you can get one in the Documents tab, by calling 1-866-432-5534 toll-free, or sending an e-mail to email@example.com.
There is no way to say for sure when distribution will be made because it depends on a number of factors; however, generally, distribution is made within 12 months of the Claims Deadline, barring any unforeseen circumstances.
Class Members are not personally liable to pay any legal fees or disbursements to Class Counsel or to the Defendants.
The Defendants are liable to pay money to the Class Members.
Legal costs are deducted from the amounts recovered for the Class Members. All legal costs were approved by the Court.
The law firms of Siskinds LLP and Siskinds, Desmeules, Avocats, sencrl are Class Counsel. Inquiries may be directed to:
680 Waterloo Street
London, ON N6A 3V8
Tel: 1-877-672-2121 x 2380
480, Saint-Laurent, suite 501
Montreal, QC, H2Y 3Y7