The statement of claim alleges that EPM's financial statements, released during the period from and including May 16, 2007 to and including April 11, 2008 (the "class period"), were materially false and/or misleading as a result of incorrect accounting for the forward sales contract. The alleged result of the incorrect accounting was that EPM's financial statements significantly understated its liabilities and overstated its earnings during the class period. The class action was brought on behalf of all persons who acquired EPM securities during the class period.
On November 26, 2009, the parties to the class action executed an agreement settling the class action for $2.2 million. The settlement is a compromise of disputed claims and is not an admission of liability, wrongdoing or fault on the part of any of the Defendants, all of whom have denied and continue to deny the allegations against them. You may view a copy of the Settlement Agreement here: [English][Français]
By Order issued by the Ontario Superior Court of Justice, dated February 18, 2010, the Court has approved the Settlement Agreement reached between the parties. The court has also approved a notice which provides information on how Class Members may file a claim under the Settlement Agreement. You may see a copy of the Notice here: [English] [Français]. You may also access the Claim Form here: [English] [Français]. The claims deadline has now passed. Cheques were mailed to all eligible claimants in December 2011.
If you are a Class Member and have any questions regarding this litigation, please contact Nicole Young at 1 (800) 461-6166 (ext. 2380) or e-mail Nicole by clicking on the Contact Us link below.
Updates concerning this action will be posted above.