At the website of the Toronto class action law firm Paliare Roland they have a note that “On Friday, October 18, 2013, the Ontario Superior Court of Justice approved the settlements with the Law Firm Defendants (including Edwin C. Harris Q.C.), and with the Funds for Canada Foundation, Mary-Lou Gleeson, Matt Gleeson and Gleeson Management Associates Inc. (the “FFCF/Gleeson Defendants”). … The settlement with the FFCF/Gleeson Defendants is for $950,000, and requires them to co-operate in the ongoing prosecution of the action by producing documents and giving evidence.  The settlement with the Law Firm Defendants is for a minimum of $23,130,789 and a maximum of $27,242,843. The Law Firm Defendants will also be obliged to produce documents and give evidence.”  It will be interesting to see how the litigation proceeds.

You can get more information on the Paliare Roland website:

http://www.paliareroland.com/practice-areas/details/class-actions/parklane-gift-program

“ParkLane Gift Program

Update

Settlements with Law Firm Defendants and with FFCF/Gleeson Defendants

On Friday, October 18, 2013, the Ontario Superior Court of Justice approved the settlements with the Law Firm Defendants (including Edwin C. Harris Q.C.), and with the Funds for Canada Foundation, Mary-Lou Gleeson, Matt Gleeson and Gleeson Management Associates Inc. (the “FFCF/Gleeson Defendants”). The settlement agreements are available to be viewed under the Documents Tab, below.

The settlement with the FFCF/Gleeson Defendants is for $950,000, and requires them to co-operate in the ongoing prosecution of the action by producing documents and giving evidence.

The settlement with the Law Firm Defendants is for a minimum of $23,130,789 and a maximum of $27,242,843. The Law Firm Defendants will also be obliged to produce documents and give evidence.

The Court has awarded legal fees to Class Counsel of $7,048,210 plus taxes, which is 25% of the total settlement amounts, with leave to request up to an additional 8% or $2,255,427 plus taxes (up to 33% in total) after delivering further submissions to the Court.

The Class Proceedings Fund will be paid 10% of the settlement fund, after deduction of legal fees, as required by statute.

The Orders of the Court approving the Settlements are posted in the Documents section, below.

A notice advising the Class Members of the settlement will be sent to the last known address for all Class Members after the 30 day appeal period expires.  In addition, the Class will be sent a claim form, which must be completed, signed and returned to the claims administrator in order to claim a pro rata share of the net settlement fund.  The notice and the claim form will also be posted on this website once the appeal period has expired.”

Here is further information on the website of Landy Marr Kats LLP:

http://www.thetorontolawyers.ca/category/class-action/cannon-v-parklane-financial-group-et-al/

Here are some of the court documents (none of the allegations have been proven in court and the matter is still ongoing):

ParkLane Notice of certification

Plaintiff Motion Record re settlement approval part 1 of 2

Plaintiff Motion Record re settlement approval part 2 of 2

Order of Justice Belobaba October 18, 2013 – Settlement Agreement – Lawyer Defendants

Order of Justice Belobaba October 18, 2013 – Settlement Agreement -FFCF Gleeson Defendants

Notice of Court Hearing for Settlement Approval

Canon and ParkLane – Third-party opt out extension order