#Class Action #Canada #Vancouver #Trevali Mining #Demmer et al.

Overview of the Class Action Settlement

In a significant development for investors, a class action settlement has been reached in the case of Demmer et al. v. Trevali Mining Corporation. This legal proceeding was certified by the Supreme Court of British Columbia (SCBC) and is centered around common shares of Trevali Mining Corporation purchased in both primary and secondary markets between October 9, 2020 and August 15, 2022.

Class Definition and Settlement Details

This proposed settlement affects individuals and entities that acquired Trevali common shares during the specified period and held these shares as of the close of trading on either April 14, 2022, or August 15, 2022. It is important to note that this settlement is a compromise intended to avoid prolonged litigation and is not an admission of liability or wrongdoing on the part of the defendants involved.

To facilitate the settlement, the defendants, Trevali Mining Corporation, have agreed to pay $2.8 million. In exchange, the class members will release the defendants from all claims associated with this case. After deducting legal fees and case-related expenses, the remaining settlement funds will be distributed to the affected class members according to an established Distribution Protocol.

Legal Fees and Representation

The representative plaintiffs have negotiated a contingency fee agreement with their legal counsel, KND Complex Litigation, which limits fees to a maximum of 30% of the settlement amount. The court will review and approve the amount of legal fees and disbursements post-hearing.

Class members will automatically be included in the settlement unless they choose to opt out. If individuals do not wish to participate in this settlement, they must submit an opt-out form to Class Counsel by May 20, 2025. Additionally, class members wishing to voice objections to the settlement or other terms must also notify Class Counsel by the same date, following the instructions provided in the long-form notice associated with this settlement.

Next Steps and Hearing Information

The settlement requires judicial approval, and further details can be found on the KND website detailing the settlement agreement and opt-out procedures. Interested parties should remain informed as the settlement approval hearing is scheduled soon. This is a crucial time for investors associated with Trevali Mining Corporation to understand their rights concerning this case.

Conclusion

For investors, this settlement represents a significant turn of events following the turbulent period for Trevali Mining Corporation's shares. The impending court decision will determine the final terms of the settlement and its implications for class members. As these developments unfold, interested parties should monitor communications from KND Complex Litigation and other official channels to stay updated on their rights and any potential compensation from the settlement.