A settlement agreement has been reached between the plaintiff, Jean-François Paris, and the defendants for a total sum of $ 850,000. The indemnities of class members will be determined in proportion to their losses and will depend on the number of members who claim.
On January 29, 2019, Mongeon J. approved the settlement agreement considering that it is in the best interests of the members. He also approved the class counsel fees, disbursements and administrative fees, considering them reasonable. You can consult the judgment here.
There will be a second claim period which will end on February 10, 2021, for members who have not already claimed. If you have already received compensation for this file, or your claim has already been rejected, you are not eligible for this second claim period.
Are you a member?
Judge Robert Mongeon of the Quebec Superior Court has authorized the institution of the class action on behalf of the following group:
All persons who were shareholders of Capital Hubble Inc. and all persons who became shareholders of Les Entreprises BigKnowledge Inc. between June 24, 2005 and December 6, 2005, excluding shareholders who were directors and/or administrators of those companies and excluding shareholders who gained a profit pursuant to the sale of their shares.
The class action only targets the shareholders of BigKnowledge or Hublle. If you held convertible debentures that you did not convert into shares, you are not included in this action and are not entitled to compensation.
The Class Action
On June 23, 2008, Mr. Jean-François Paris filed a motion for authorization to institute a class action against the respondents. The applicant alleges, among other things, that the respondents directors failed to their duty to inform the investors about the real financial situation of the company. The class action filed by Mr. Paris seeks to indemnify the investors members of the group for the losses they have suffered following the actions of the respondents.
On September 1st, 2011, Mr. Justice Robert Mongeon of the Quebec Superior Court has authorized the institution of the class action.