Class Action Settlement Alert: Trevali Mining Corporation Case Overview and Next Steps

Overview of the Class Action Settlement in Demmer et al. v. Trevali Mining Corporation

Background

A class action lawsuit labeled Demmer et al. v. Trevali Mining Corporation has reached a proposed settlement stage. The settlement is positioned in the context of shareholders who acquired common shares of Trevali between October 9, 2020, and August 15, 2022. This lawsuit was recognized and certified by the Supreme Court of British Columbia as SCBC S-228113.

Settlement Details

The settlement involves a monetary compensation of $2,800,000 from Trevali Mining Corporation to its shareholders involved in the lawsuit. Notably, this settlement does not imply any admission of liability from the defendants. The funds will be allocated following the payment of class counsel's fees, necessary expenses, and any honoria for the plaintiffs, in line with a predetermined Distribution Protocol.

If the court approves this settlement, it will cover all individuals and entities who purchased Trevali shares during the specified timeframe and maintained these shares by the close of trading on either April 14, 2022, or August 15, 2022.

Key Dates and Actions Required

This notice serves as a crucial piece of information for all affected class members. Inclusion in this class is automatic unless an individual chooses to opt out. Those wishing to revoke their participation must submit an opt-out form by May 20, 2025. Conversely, class members can also object to aspects of the settlement, including the Distribution Protocol or fee amounts proposed for Class Counsel, needing to notify Class Counsel by the same deadline.

Class Counsel and Legal Fees

The representative plaintiffs in the case have agreed on a contingency fee structure with their legal correspondence, including a cap of 30% for attorney fees. Class Counsel will seek judicial approval for this fee during the settlement approval hearing. A summary of the fees and expenses will be determined by the court, ensuring eyes are on the transparency of the proceedings.

Where to Find More Information

Details regarding the settlement, opportunities to opt-out, and the full Settlement Agreement can be accessed through the KND Complex Litigation website.

Conclusion

Affected shareholders are urged to make note of the legal proceedings and ensure they adhere to deadlines and procedures to protect their interests. The Supreme Court's involvement indicates the importance of this settlement and the necessity for shareholders to pay attention to the outcomes, as they may significantly influence their financial standings with respect to their investments in Trevali Mining Corporation.