This class proceeding has settled and the Ontario Superior Court of Justice (the “Court”) has approved the settlement and class counsel fees.
The class action alleged that the Estimated Return on Investment documentation proffered by Talon contained negligent misrepresentations regarding the potential revenue that could be earned as the owner of a Hotel Unit.
The Defendant has agreed to pay the all-inclusive sum of $5,750,000 (CAD) to settle the claim. The Settlement Agreement constitutes a compromise of all disputed claims, without any admission or findings of liability or wrongdoing against the Defendant. The detailed terms of the Proposed Settlement are set out in the Settlement Agreement between the parties.
Each known class member will receive an email (or letter) with the court-approved Notice of Settlement Approval. This package provides the necessary instructions from Class Counsel explaining the Claims Process, which includes your unique Claim ID number and PIN Code required to access the Claims Portal.
If you have not received written Notice and require a unique claim ID and PIN, please immediately contact:
Ricepoint
P.O. Box 3355
London, ON N6A 4K3
Tel: 1-888-710-2842
To be eligible to receive part of the Net Settlement Fund, class members must submit a completed Claim Form to the Claims Administrator, Ricepoint, by no later than May 19, 2023 at 5:00 PM (EST).
Once the claims period has expired, and the Claims Adjudication process has been completed for all Class Members, payments under the Settlement Agreement will be distributed to Class Members by Ricepoint.
For more information, or if you have any questions, please email Class Counsel at the address below:
Claims Administrator:
Ricepoint
Attention: Talon Class Action
P.O. Box 3355
London, ON N6A 4K3
T: 1-888-710-2842
Class Counsel:
Flaherty McCarthy LLP
Attention: Sean A. Brown
Email: info@talonclassaction.com
Mack Lawyers
Attention: Paul Mack
Email: pmack@macklawyers.ca