MMW is class counsel in a case called Ivany v. Financière Telco, Verbeek et al. Barrie Court File No. 01-B2684. The court has approved a settlement between Dundee Securities Corporation and a portion of the class. The court previously certified the case as a class action against Brian Verbeek, Dundee Securities Corporation, and Canadian Western Trust.
In 2016, MMW, acting as class counsel and on instructions from the class representative, agreed to settlement terms with counsel for Dundee. The settlement was subject to court approval. A settlement approval hearing was held in June 2017 before Justice Mullins of the Ontario Superior Court of Justice. On September 2, 2017, Justice Mullins released her decision approving the settlement and signed the Order, attached.
The Dundee Subclass are those persons who invested in Canadian Controlled Private Corporations (CCPCs) funds from their Locked-In Retirement Accounts with investment advisor Brian Verbeek, while he was employed by Dundee Securities Corporation. Members of the Dundee Subclass who have not opted out of the class action are entitled to a share of the settlement. Settlement funds will be administered by Rice Point, a firm that specializes in the administration of class action settlements and the distribution of settlement funds. Members of the Dundee Subclass are encouraged to read the Order for details of how the settlement will be administered. Rice Point will be contacting members of the Dundee Subclass with more information. However, if you are a member of the Dundee Subclass, and you have moved, we urge you to contact Rice Point at the address provided in the Order.