Q: During the period from 2009 through to 2014 I was a shareholder in Imperial Metals. I just received a "Notice of Settlement" related to a class action.
The basics are a $6 million settlement, minus $1.8 million to the lawyers, minus settlement costs, with the balance paid pro rata to Class Members (with a list of excluded persons, like Murray Edwards, etc.).
I've done a bit of preliminary work here. I held 3600 shares as of the key date Aug 14, 2011. I sold all of my shares, the last being in 2014. Cumulatively, I made a reasonable return.
I have followed CRA's direction and kept all of my documentation for the past 6 years. However, we flush all outdated official records (buy and sell confirmation slips). I would need to contact RBC to obtain copies and probably have to pay to get them.
In your view, is this worth pursuing...financially I would get "something". In reality, I am guessing the lawyers would get most of the money and there would be some scraps thrown around to the rest of us.
Any thoughts or guidance would be appreciated.
Thanks...Steve
The basics are a $6 million settlement, minus $1.8 million to the lawyers, minus settlement costs, with the balance paid pro rata to Class Members (with a list of excluded persons, like Murray Edwards, etc.).
I've done a bit of preliminary work here. I held 3600 shares as of the key date Aug 14, 2011. I sold all of my shares, the last being in 2014. Cumulatively, I made a reasonable return.
I have followed CRA's direction and kept all of my documentation for the past 6 years. However, we flush all outdated official records (buy and sell confirmation slips). I would need to contact RBC to obtain copies and probably have to pay to get them.
In your view, is this worth pursuing...financially I would get "something". In reality, I am guessing the lawyers would get most of the money and there would be some scraps thrown around to the rest of us.
Any thoughts or guidance would be appreciated.
Thanks...Steve
Q: May I have your thoughts on Imperial Metals? I see the current share price is still below where it was 5 years ago. So no long term wealth has been created. Is there anything positive about this company?
Jim
Jim
Q: We have just returned from a five week trip to Singapore, Vietnam and Malaysia. We really were impressed with the work ethic, entrepreneurship and the tremendous growth in the middle class in all three countries. We always look for the presence of Canadian companies when travelling and were disappointed in the lack thereof. We saw Manulife, A&W, CIRCLE K and RBC. With the possible change in our trade pattern to the south would you have any investment suggestions for companies that are selling into these above-mentioned countries?