Following a hearing held on December 2, 2020, Judge Thomas M. Davis of the Superior Court of Quebec rendered two judgments on December 7, 2020. The first judgment approves the Settlement Agreement concluded between Ms. Sheila Calder and the defendants Royal Bank of Canada and RBC Dominion Securities Corporation (RBC), pursuant to which RBC agreed, without admission of liability, to pay $ 6 million for the benefit of the Group. This judgment also approves Class Counsel fees and disbursements. The second judgment determines the fate of certain members who had received compensations from TD Bank. The Settlement Agreement approval judgment closes nearly 12 years of litigation and represents, according to the Approval Judgment, a Settlement Agreement that is “fair and reasonable and in the best interests of the Class Members”. The distribution of the net settlement amounts is expected to begin in January 2021 and could be completed by the end of February 2021. Class Members are invited to read the Notice to Members received prior to the hearing, the Settlement Agreement and the approval judgment for more information.
