On March 24, 2016, a proposed class action was commenced against The Stars Group Inc. (“TSGI”) and others in the Superior Court of Québec (“Class Action”). The authorized common issue in the Class Action is: Did the Defendants make misrepresentations and omissions of material fact in TSGI’s public filings and statements regarding its business practices?
The settlement of the Class Action (“Agreement”), without any admission of liability on the part of the Defendants, was approved by the Honourable Justice Suzanne Courchesne of the Superior Court of Québec on July 8, 2020. This notice does not mean that the Superior Court of Québec has found liability or a likelihood of recovery on the part of any Class member. In fact, the Defendants have denied and continue to deny each and all of the claims and allegations of wrongdoing made by the Plaintiff in the Class Action. This notice provides a summary of the Agreement.
SUMMARY OF THE SETTLEMENT TERMS An amount of CDN $30 million will be paid (“Settlement Amount”), which shall definitively and permanently resolve, settle and release and discharge all claims asserted, or which could have been asserted, against the Defendants by the Plaintiff on his own behalf and/or on behalf of the Class.
The Settlement Amount for the Class, less the lawyers’ fees and disbursements, administrator’s expenses, and taxes, will be distributed to the Class on a pro rata basis in accordance with the Court-approved plan of allocation. Distributions to Québec Class Members will be subject to the levy for the "Fonds d’aide aux actions collectives". Legal fees have been approved in the amount of 25% of the Settlement Amount, plus disbursements, plus taxes. The Agreement and the Plan of Allocation may be viewed at http://faguyco.com/en/portfolio/amaya-class-action and http://amayasecuritiessettlementcanada.com.
5.2 Interim Investment of Escrow Account
Class Counsel and then the Administrator after the Agreement becomes final, shall hold the Settlement Amount in the Escrow Account and shall invest the Settlement Amount in a liquid money market account or equivalent security with a rating equivalent to, or better than that of ann interest bearing account in a Canadian Schedule 1 bank and shall not pay out any amount from the Escro Account, except in accordance with the terms of the Agreement including, but not limited to:
5.3 Taxes on Interest
(10) Class Counsel means Faguy & Co. Barristers & Solicitors Inc. and Morganti Legal.
Trilogy Class Action Services staff, Faguy & CO, Morganti Legal, as well as the Judge(s) are granted access to your contact information and supporting documentation, as required. Your information is stored with the highest security for two (2) years following the final Distribution made, at which point, all information will be thoroughly disposed of.
Trilogy Class Action Services will be more than happy to assist with any questions you may have. Please complete the contact form found on either the Home page or the Contact page.
Please note: if you’ve already enrolled in the portal, please include your Sequence ID to help us assist you faster. You can find your Sequence ID on the View Claims tab of the claims administration portal, in the first column beside your Claim Form. We do our very best to return all email and phone inquiries within 72 business hours.
To be eligible for settlement benefits, you must submit your Claim Form by November 18, 2020. Claims submitted after this date may not be eligible for compensation and will need special approval from the Court(s) prior to any distribution being made.
All persons and entities, excluding certain persons associated with the Defendants, who acquired securities of THE STARS GROUP INC. between March 31, 2014 to March 22, 2016 (collectively, the “Class” or “Class Members”).
Please visit www.amayasecuritiessettlementcanada.com/portal and click on the “Register Here” blue button. Enter in all your contact information and press “Save”. A password will be sent to your inbox. Please check your junk/spam folder, as it occasionally lands there.
If you are using a work email address, it is commonly found that the password email will not arrive due to security settings. Please do not register again. If you do not see your password after 20 minutes, please send a message using the form on the Contact page of this website.
Once logged into the portal, please click on “Claim Form Instructions” found at the top of the claims administration portal.
Please note: you do not need to make a new registration for each member of your immediate household. Spouses/children are welcome to create a “New Claim Form” for their loved ones if they have permission from them to file on behalf. All qualified Claim Forms eligible for a Distribution payment will be made to the Claimant Name entered when the Claim Form is created.
In order to complete the Claim Form, you will need to upload supporting documentation showing the dates you purchased/acquired your securities within the Class Period (between March 31, 2014 and March 22, 2016) as well as the dates you sold/disposed of your securities. If you did not dispose of your securities, and you still hold them, please upload supporting documentation showing you still hold your shares.
Supporting documentation can be any of the following:
If you find that you need assistance with completing the Claim Form, please contact Trilogy Class Action Services, and we will be happy to help you with your Claim Form.
When a Claimant first registers in the claims administration portal under the “Individual Investor” option, your first Claim Form is automatically populated for you. The system marks all Claim Form statuses initially as “Pending”.
Once a Claimant completes the Calculations and uploads supporting documentation and presses “Save” on the Claim Form, the Claimant’s status will change to “Claim Filed” within 24-48 hours.
Each Claim Form will stay in the “Claim Filed” status until one of Trilogy Class Action Services’s Claims Administrators is able to complete the Adjudication of the Claim Form.
During the Adjudication process, the Claims Administrator will verify the following:
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The content on this website is provided for general information purposes only and does not constitute legal or other professional advice or an opinion of any kind. Users of this website are advised to seek specific legal advice by contacting members of the firm(s) located on the Contact Page (or their own legal counsel) regarding any specific legal issues. Trilogy Class Action Services does not warrant or guarantee the quality, accuracy or completeness of any information on this website. The articles published on this website are current as of their original date of publication, but should not be relied upon as accurate, timely or fit for any particular purpose.
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