#Canada #Vancouver #Trevali Mining #Collective Action #Class Settlement

Settlement Announced in Trevali Mining Class Action

A significant legal development has unfolded as a settlement has been reached in the class action lawsuit titled Demmer et al. v. Trevali Mining Corporation et al. This lawsuit pertains to the acquisition of common shares of Trevali Mining Corporation between October 9, 2020 and August 15, 2022. Investors who meet the defined criteria are likely to be affected by this resolution.

Overview of the Case

The action was officially certified by the Supreme Court of British Columbia, thereby establishing the legitimacy of the claim. It represents individuals and entities who purchased or acquired common shares of Trevali Mining Corporation in either primary or secondary markets within the specified time frame, and who held a portion or all of these shares by the closure of trading on April 14, 2022, or August 15, 2022.

Although the settlement amounts to $2,800,000, it is essential to understand that this agreement does not imply any admission of liability or wrongdoing on the part of the defendants. Rather, it is a compromise aimed at resolving the dispute amicably. The terms of the settlement are currently pending court approval.

Distribution Plan

Following the deduction of legal fees, expenses, and compensation for the plaintiffs, the settlement funds will be distributed among the eligible class members according to a detailed distribution plan. The plaintiffs’ representatives have agreed to a conditional fee arrangement with the group lawyers, allowing for a maximum of 30% of the settlement to cover their fees. The court will oversee and determine the actual costs to be paid to the attorneys.

Important Deadlines

By default, all affected individuals are included in the class and will be bound by the settlement if it receives court approval, unless they choose to opt out of the process. Those wanting to withdraw from the lawsuit must file a withdrawal form with the group lawyers by May 20, 2025.

Members of the class who may wish to contest the settlement, distribution plan, attorney fees, or defendant’s compensation must notify the group lawyers by the same deadline, May 20, 2025, following the guidelines provided in the comprehensive notice that details these proceedings. The group’s legal representatives are KND Complex Litigation.

Further Information

Investors seeking additional details about this settlement, including the withdrawal form and the settlement agreement, can visit KND’s class actions page. The publication of this announcement has been sanctioned by the Supreme Court of British Columbia, emphasizing the importance of this case for shareholders and potential claimants.

In conclusion, the outcome of Demmer et al. v. Trevali Mining Corporation signifies a critical moment for shareholders affected by Trevali’s stock performance during the specified period. As the situation evolves, continuous updates will be essential for maintaining an informed stance on investments in the mining sector.