Baja Mining Securities Class Action

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The content of this page has not been approved by the Court nor does it constitute legal advice. It is for the purpose of providing general information only. 

Update

The Settlement Claims Process has now closed

Further to an international notice campaign approved by the Court in February, 2016, the claims period opened on April 6, 2016 and closed on August 4, 2016. There is no further opportunity to make a claim. The Claims Administrator now requires time to review the claims received. Accurate claims processing takes time. We appreciate your patience.

 

Nature of the Case

On July 26, 2012, Harrison Pensa LLP and Bates Barristers filed a proposed class action against Baja Mining Corp. (“Baja”), certain of its senior officers and directors, and the company’s auditor.  

The action alleged that during the class period, the Defendants made misrepresentations and/or failed to make timely disclosure of significant cost overruns and project delays related to Baja’s Boleo Project located in Baja California Sur, Mexico.

Status of the Proceedings

After over three years of litigation, a settlement agreement was signed by the parties on November 6, 2015 (the “Settlement”).  In accordance with the Settlement, Baja has paid CAD $11,000,000.00 for the benefit of Class Members.  The Settlement fully resolved all allegations in the Class Action. 

Motions were held on February 19, 2016 for approval of the Settlement itself, the Plan of Distribution of the Settlement, and payment of Class Counsel’s fees, disbursements, and applicable taxes.  All motions were granted by the Court.

Matter Resolved and Claims Period Concluded

The claims period was open from April 6-August 4, 2016, during which time Class Members had the opportunity to make claims for compensation. 

The claims period is now closed.  If you did not make a claim on or before August 4, 2016 and did not previously validly opt out, there is no further recourse against Baja Mining Corp. 

If you made a valid claim on or before August 4, 2016, you will receive confirmation within 60 days of submitting your claim.  If your claim contained a technical deficiency, you will be notified and will have 30 days to correct the error.  Once all claims and deficiency responses are processed, decision letters regarding each claim will be sent.  A claim may be fully accepted, partially accepted, or denied.  Final compensation will be calculated and sent in accordance with the Plan of Distribution.  Accurate claims processing takes time and the specific date for payment depends on several factors.  The final date for payment is unknown at this time.  We appreciate your patience.

Court Documents

Class Members

For more information please visit www.bajaminingclassaction.ca.  Inquiries should be directed to 1-855-744-9227 ext. 200 or by email to