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XBC.TO
id: 1191

Xebec Adsorption (XBC) CAD $5M Shareholder Settlement

The settlement funds have been distributed to claimants.
$5,000,000
Cash Settlement
500-06-001135-215
Case number
11/10/2019
Class period Start
03/24/2021
Class period End
04/30/2024
Claim deadline

Xebec Adsorption (XBC) agreed to settle CAD $5M with investors to end claims over misrepresenting revenue from its renewable natural gas projects.

Case Status
Disbursed
Alleged Offence
Mismanagement, 
Misleading Statements, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Maurice Leclair
Attorneys
KND Complex Litigation
Defendants
Kurt Sorschak, Stéphane Archambault, Louis Dufour, William Beckett, Guy Saint Jacques
Trades matching type
FIFO

Frequently Asked Questions

Who is eligible for this settlement?

All persons and entities, who purchased or otherwise acquired securities of Xebec by any means during the period from November 10, 2019, to March 24, 2021, inclusively, and held some or all of such securities as of the close of trading on the TSX on March 11, 2021 or March 24, 2021.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

What is 11thestate?

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

  1. Prepare documents for your payout

  2. Audit the claim and make sure you get the maximum possible payout

  3. File a claim with the settlement administration

  4. Correspond with the settlement administration to resolve emerging issues

  5. Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.