FMF’s Shareholders Garner $28M CAN Settlement

Law360, New York (November 29, 2006, 12:00 AM EST) -- In one of the largest securities class action settlements in Canadian history, FMF Capital Group Ltd. said Tuesday that it will pay $28 million CAN to resolve the lawsuits brought against it in Michigan, Ontario and Quebec courts.

Under the terms of the deal, which is still subject to court approval, FMF also agreed to make certain changes to its board mandate and audit committee charter.

“This litigation was hard fought, but we succeeded in securing terms that are important to Canadian investors,” said Siskinds LLP...
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