Southern China Livestock Settlement
A settlement has been reached in the investor class action against SCL’s auditor, Schwartz Levitsky Feldman LLP (“SLF”, the “Defendant”). The claim alleges negligence against SLF relating to its audit opinions that were included in SCL’s private placement memorandum.
The case was commenced in 2012 in the Ontario Superior Court of Justice in Toronto. The court appointed Excalibur as representative plaintiff on behalf of the Class of investors, and Paliare Roland Rosenberg Rothstein LLP as Class Counsel in December 2016.
On May 4, 2020, the Ontario Superior Court of Justice approved the settlement.
Under the settlement, SLF has made a payment of $4,200,000.00 CAD to establish a Settlement Fund.
There has been no determination of wrongdoing or liability in this action and the Defendant has denied (and continues to deny) wrongdoing or liability to the Class.
Who is included under this settlement?
Class Members are all persons or entities who purchased investment units ("Units") of Expedite 4, Inc. between March 29, 2010 and December 23, 2010, and who continued to hold any of the shares or warrants comprising the Units as of December 23, 2010, other than Excluded Parties (for example, the placement agent, underwriters, and executives of the issuers).
Click here for the list of Excluded Parties.
Summary of Your Legal Rights and Options
|Submit a Claim|
The only way to receive compensation under the Settlement is to submit a Claim.
The deadline to submit claims for compensation is June 10, 2020.
|Object to the Settlement|
The deadline to Object expired on April 30, 2020.