FSD Pharma Inc. (CSE: HUGE, OTC: FSDDF, FRA: 0K9)
Ontario Superior Court of Justice, Court File No.: CV-19-00614981-00CP
Trilogy Class Action Services, the court appointed claims administration, has updated its website on January 24, 2023
SEPTEMBER DISCLOSURE CHEQUES
➢ All September Disclosure cheques have been sent by regular mail through Canada Post.
➢ The cheques were mailed to the address on your Claim Form.
➢ Please make sure your address is up to date in the online claims administration portal.
➢ Any cheques returned to our office will be resent in February 2023.
➢ All September Disclosure cheques must be cashed by May 31, 2023.
NOVEMBER DISCLOSURE CHEQUES
· November Disclosure cheques that were deposited and returned as “Not Traceable” by your financial institution prior to January 3, 2023 and have been reported to Trilogy via email or phone, are being reissued.
· November Disclosure cheques that were deposited after January 4, 2023, have, and continue to be successfully deposited and processed by our financial institution. If you have not attempted to deposit your November Disclosure cheque, and have not reported any error to Trilogy, please deposit your cheque with confidence.
· If you have reported to Trilogy that your cheque was processed as “Not Traceable” and requested a replacement cheque, PLEASE DO NOT attempt to redeposit a second time. All cheques reported to Trilogy have a STOP PAYMENT on the cheque with our financial institution and are being reissued.
· Attempting to redeposit your initial cheque a second time may result in bank fees with your financial institution when your initial cheque is deposited a second time and reversed. These fees will be the responsibility of the Class Member.
· Our financial institution will reverse all duplicate payments to Claimants, should any Claimant deposit both the original and the replacement cheque.
· November Disclosure cheques are being reissued in the order of the cheque number of the previously issued cheque. For example, cheque number 500, 501, 502, etc.
· All November Disclosure cheques reported to Trilogy by February 1, 2023, will be reissued by February 10, 2023.
· No payments will be e-transferred.
· All reissued November Disclosure cheques must be cashed by July 1, 2023.
· Wire-transfer instructions are currently being sent to you for completion.
· Wire-transfers will occur within five (5) business days of receipt of complete and accurate banking information.
· We apologize for the delay in getting these instructions do you. We have been pre-occupied with reissuing cheques to November Disclosure Claimants.
Once again, please accept my apologies for the issues regarding the processing of the November Disclosure cheques. And Thank you for your continued patience while we worked with our financial institution to make sure cheques are processed going forward.
We appreciate that you have been inconvenienced while we worked with the TD Bank to assure that cheques that were previously presented for payment and denied are not cashed after we reissue the second cheque. It took longer than anticipated to resolve this issue with our financial institution. We need to be very clear that no payments are to be reissued until we have all cheques verified and arrangements made that no Claimant receives a duplicate payment. You will receive your Distribution payment in due course as cheques are currently being reissued. We anticipate all November Disclosure cheques to be reissued by February 10, 2023.
This issue occurred at the printer when the cheques were coded incorrectly. I take full responsibility for this and fixing the mistake. We are doing everything as quickly as possible to make this right, while protecting the money in the Net Settlement Fund, and taking care of all our Class Members. Please let us know if you have incurred bank charges as a result of this issue and we will reimburse you accordingly.
May I please ask you to be patient while we resolve this issue for all Class Members.
This notice is directed to all persons and entities, excluding certain persons associated with the Defendant, wherever they may reside or be domiciled, who purchased or otherwise acquired FSD Pharma, Inc. class B common shares in the secondary market, on or after September 20, 2018, and held some or all of those shares until after the close of trading on February 6, 2019.
On February 4, 2021, the Ontario Superior Court of Justice approved the settlement in this class action. The settlement provides for the payment of CAD $5,500,000 in consideration of the full and final settlement of all claims against the Defendant, including class counsel’s fees, applicable taxes and expenses, and interest, a full release and a dismissal of the action. The Court also set a Claims Bar Deadline of June 21, 2021, which is now expired. As such, further claims cannot be accepted in this class action.
The Court-appointed Referee is in the process of adjudicating any disputes raised by claimants during the claims process.
Questions for the Class Members’ lawyers may be directed to:
Morganti & Co., P.C.
Class members can avail themselves of the claims process by using the website at www.fsdsecuritiesclassaction.com
Details about the Court Approved Settlement may be found in following Notice of Settlement Approval in the following languages:
Claim or Motion for Authorization issued: February 22, 2019
Class Period: September 20, 2018 to and including February 8, 2019, but the statutory claim is being advanced for the November 29, 2018 through February 7, 2019 period
Judge: The Honourable Edward M. Morgan
Motion Record in Support for Statutory Claim Filed: The hearing for “leave to proceed” occurred on June 23, 2020, via, video-court
Shareholders’ Canadian Counsel: Albert Pelletier and Andrew Morganti, Morganti & Co.
Trilogy Class Action Services
Attention: FSD Class Action Settlement
117 Queen Street, P.O. Box 1000,
Niagara-on-the-Lake, Ontario L0S 1J0