The parties involved in the various Norbourg suits

February 16, 2011 10:26 ET

Norbourg Class Action: Final Agreement Reached

MONTREAL, QUEBEC--(Marketwire - Feb. 16, 2011) - The parties involved in the various Norbourg suits announced that they have signed the final agreement confirming the settlement and payment of $55 million to the Norbourg victims.

On Thursday, February 17, 2011, the notice to members stating that this out-of-court settlement will soon be submitted for approval by the Superior Court will be published in La Presse, Le Soleil, Le Journal de Montréal, Le Journal de Québec and The Gazette.

All Norbourg and Évolution investors as of August 24, 2005 will thus be notified that the settlement will be submitted to Superior Court Judge André Prévost on March 14, 2011, to approve the transaction concluded with the participating defendants and to determine the amount in fees for their attorneys. These investors will also be notified that a petition on behalf of Réal Ouimet in respect of the motion to initiate a class action against the Caisse de dépôt et placement du Québec will also be submitted to the court. Finally, the notice will also mention how this settlement will impact the investors in the Perfolio class action.

This notice to the members will contain details regarding the agreement, in particular the contact information for the lawyers representing the investors, including a telephone number (1-885-788-3003) and the website address (www.roylarochelle.com) for the Pellemans class action, or the website (www.gbvavocats.com) for the Caisse and Perfolio class actions, where interested parties may consult the major documents and receive answers to their questions.

Contact Information

  • Investors' legal counsel
    Me Jacques Larochelle: 418-529-5881
    Me Serge Letourneau: 418-692-6697 or Cell: 418-564-8142
    Me Marc-Andre Gravel: 418-656-1313