Certification and Proposed Settlement of Class Action Against TILT Holdings Inc.
Oct 26, 2021 12:44 PM ET
Legal Newswire POWERED BY LAW.COM
The parties to a proposed class action commenced against TILT Holdings Inc., Alexander Coleman, Mark Herron, Michael Orr and Todd Halpern have now reached a proposed settlement of the claim which is subject to approval by the Ontario Superior Court of Justice.
The class action has now been certified. This notice provides information about this proposed settlement and related matters and how to opt out of the class action.
Your legal rights are affected even if you do nothing. Please read this notice carefully.
The class action was commenced on behalf of all persons who acquired TILT Holdings Inc. securities between October 12, 2018 and May 1, 2019. The proposed settlement is for US$3.65 million.
By agreeing to the proposed settlement, the parties avoid the costs and uncertainty of a trial and delays in obtaining judgment.
If you do not wish to be bound by the class action and participate in the settlement, you must opt out of the class action. A copy of the Opt Out Form is available here:
The Ontario Superior Court of Justice is required to decide whether to approve the proposed settlement, class counsel fees and disbursements plus tax, an honorarium for the representative plaintiff and a plan to allocate and distribute the settlement proceeds. The Court will hear submissions about the approval of the proposed settlement on November 29, 2021. Payments will only be made available if the Court approves the proposed settlement and after any appeals are resolved.
YOUR LEGAL RIGHTS AND OPTIONS FOR THIS PROPOSED SETTLEMENT
- Opt Out: Fill out an Opt Out Form. Exclude yourself from the class action and the proposed settlement. The Opt Out Form is available here: www.kalloghlianmyers.com/tilt You must email your Opt Out Form before November 24, 2021 to: [email protected]
- Object: Fill out a Notice of Objection and explain why you object to the settlement and other relief sought. The Notice of Objection is available here: www.kalloghlianmyers.com/tilt You must email your Notice of Objection before November 24, 2021 to: [email protected]
- Go to a Hearing: You can attend the Zoom videoconference approval hearing in the Ontario Superior Court of Justice on November 29, 2021 to object to the proposed settlement and ancillary relief.
- Do Nothing: Remain in the class action and participate in the settlement, but give up your right to object to the proposed settlement.
These rights and options and the deadlines to exercise them and more information about the proposed settlement are explained in a notice available at www.kalloghlianmyers.com/tilt
More details are in the Settlement Agreement. You can get a copy of the Settlement Agreement at www.kalloghlianmyers.com/tilt You can send your questions to [email protected]
The lawyers for the plaintiff in the class action are Kalloghlian Myers LLP and Paul Bates.
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