IMPORTANT: Update on lawsuit – Court approval of partial settlement on September 11, 2018

On September 11, 2018, the Alberta Court of Queen's Bench (Calgary) approved a partial settlement of this lawsuit with Riaz Mamdani, Strategic Financial Corp., Strategic Equity Corp. and Glenmore & Centre Ltd. (collectively, the "Settling Defendants"). The Settling Defendants do not admit any wrongdoing or liability on their part. The settlement is a compromise of disputed claims.

Under the settlement, Glenmore & Centre Ltd. will pay $2,250,000 (the "Settlement Amount") in full and final settlement of all claims against the Settling Defendants, including lawyers' fees, disbursements and administration costs, in return for, among other things, a release and a dismissal of the lawsuit, as against them. Lawyers' fees and disbursements (including amounts being repaid to class members) were fixed by the Court as a first charge on the Settlement Amount at $356,497.63. The remainder of the Settlement Amount, less any administrative costs ordered to be paid by the Court, will be distributed to Class Members in accordance with the Court-approved Claims and Distribution Protocol (which can be downloaded from this webpage). The lawsuit will continue as against the remaining Defendants, who are not parties to the settlement. More information on this partial settlement is contained in the Order re Partial Settlement Approval and the Notice of Settlement, which can be downloaded from this webpage.

IMPORTANT: If you wish to participate in this settlement you must submit a claim and provide all necessary supporting documentation to Burnet, Duckworth & Palmer by no later than November 30, 2018. The Claim Form can be downloaded from this website, and contains the details on how to submit a claim.

For more information, please contact Andrew Sunter or Joanne Luu at Burnet, Duckworth & Palmer:

Andrew Sunter
Phone: 403-260-0283
Email: [email protected]

Joanne Luu
Phone: 403-806-7826
Email: [email protected]