Makris v Endo International PLC

On October 1, 2020 the Ontario Superior Court approved a securities class action settlement agreement in the amount of $700,000 and a plan of allocation  providing for the distribution of the settlement amount, net of legal fees, disbursements and taxes, to two investor protection legal clinics.

The Cy-près Distribution of the “Uneconomic” Net Settlement Amount

During the class period, the defendant’s securities traded on both the Nasdaq and the TSX, with trading volumes on the TSX accounting for less than 1% of the trading volume on the US exchanges.  Most class members in the Ontario … Continue Reading