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BRIEF-Home Capital announces agreements to settle osc and class action matters

Published 2017-06-14, 06:08 p/m
© Reuters.  BRIEF-Home Capital announces agreements to settle osc and class action matters
HCG
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June 14 (Reuters) - Home Capital Group Inc HCG.TO :

* Home Capital announces agreements to settle OSC and class action matters

* Home Capital Group Inc - has reached two agreements which together comprise a global settlement with Ontario securities commission

* Home Capital Group- under proposed settlement with commission, co will make a payment of $10 million and reimburse commission costs in amount of $500,000

* Home Capital Group Inc - Home Capital expects to fund substantially all of costs of such settlements through available liability insurance

* Home Capital Group Inc says will make a payment of $29.5 million to be distributed (net of costs and other expenses) to class as defined in class action

* Home Capital Group Inc says payment of $29.5 million includes $11 million of payments being made in commission settlement

* Home Capital Group- there will be no deduction for legal fees of counsel for class plaintiff in respect of $11 million being paid in commission settlement Source text for Eikon: ID:nCNWBxSRfa Further company coverage: HCG.TO

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