A final settlement has been reached in a class action brought on behalf of former security holders of Endeavour Resources Inc., who tendered securities pursuant to a November 23, 2001 take-over bid circular by Aspen Resources Group Corporation. The class action sought damages under the Ontario Securities Act for alleged misrepresentations in that take-over bid circular.
Harrison Pensa LLP acts as counsel for the plaintiff and the class of Endeavour security holders in the action.
The proposed settlement, in the amount of CDN $2,400,000, resolves the remainder of the case in its entirety. Previous settlements totalling CDN $885,000 have been approved, bringing the total settlement recoveries to CDN $3,285,000.
The settlement, and the plan for distributing the settlement funds, will soon be before the court for approval. Please visit www.aspenclassaction.ca for more information.