TORONTO, June 28, 2017 /CNW/ - Home Capital Group Inc.
("The Company" TSX: HCG) announced that Justice Raikes of the Ontario Superior Court of
Justice issued an order today certifying an action as against the
Company and certain of its former officers as a class action for
settlement purposes only.
The class consists of all persons and entities wherever they may
reside who acquired common shares of the Company from November 5, 2014 through to and including
July 10, 2015. The Court ordered that
any class member who wishes to exclude him, her or itself from this
settlement, must do so by submitting an opt-out election on or
before August 8, 2017 to the class
action administrator, RicePoint Administration Inc.
The settlement is part of a global settlement to resolve the
action and related enforcement proceeding by Staff of the Ontario
Securities Commission ("OSC"). In order for the settlement to take
effect, there must be final approval by the Court of the settlement
of the class action and by the OSC of the settlement of the
regulatory proceeding. The hearing to approve the OSC settlement is
scheduled for August 9, 2017 and a
hearing to approve the class action settlement is scheduled for
August 21, 2017. More information
about the class action settlement is available at
http://www.siskinds.com/home-capital-group-inc/.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within
the meaning of applicable Canadian securities legislation. Please
refer to the Home Capital's 2016 Annual Report, available on Home
Capital's website at www.homecapital.com, and on the Canadian
Securities Administrators' website at www.sedar.com, for Home
Capital's Caution Regarding Forward-looking Statements.
About Home Capital Group Inc.
Home Capital Group Inc. is a public company, traded on the Toronto
Stock Exchange (HCG), operating through its principal subsidiary,
Home Trust Company. Home Trust is a federally regulated trust
company offering residential and non-residential mortgage lending,
securitization of insured residential mortgage products, consumer
lending and credit card services. In addition, Home Trust offers
deposits via brokers and financial planners, and through its direct
to consumer deposit brand, Oaken Financial. Home Trust also
conducts business through its wholly owned subsidiary, Home Bank.
Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia,
Quebec and Manitoba.
SOURCE Home Capital Group Inc.