|ANNOUNCEMENT - Wednesday, January 19, 2011|
Norbourg Class Action - Agreement in Principle Reached (Public Announcement)
The parties to the Norbourg class action have reached an agreement in principle to settle the suit. Concentra Trust, a wholly-owned subsidiary of Concentra Financial, is named as one of several defendants in this class-action lawsuit that commenced in 2006 in the Province of Québec.
The agreement in principle is announced in the Communiqué issued by the Investors’ legal counsel. Upon ratification of the agreement by the Superior Court of Québec all proceedings of the suit will be brought to a close.
The executive and management of Concentra are pleased that this matter will be concluded in a manner reflecting the best interests of all parties.
Disclosure of the legal action has been included in previous financial statements. The agreed settlement does not cause a material negative impact to the financial results of Concentra Financial. Details remain confidential as the final stages are worked through. Further information will be forthcoming when the proceedings are closed.
For additional information contact:
Vice-President, Legal & Corporate Affairs
Phone: 306-956-1833 Fax: 306-652-7614