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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Tuesday, August 22, 2017

Ont. court approves Home Capital class action lawsuit settlement

An Ontario court has approved the settlement of a $29.5 million class-action lawsuit by investors against alternative mortgage lender Home Capital Group Inc.

The Ontario Securities Commission approved a settlement earlier this month with the Toronto-based company and three former executives who agreed they failed to tell investors quickly and completely about fraudulent activity by some mortgage brokers associated with the lender.

About $11 million of the payments being made to the OSC will go toward the $29.5-million, class-action settlement.

Each settlement had been conditional on approval of the other.

The OSC's announcement of its allegations in April contributed to a sudden exodus of Home Capital depositors that pushed the Toronto-based company to borrow about $2 billion at staggeringly high interest rates in order to stay in business.

Home Capital shares (TSX:HCG) and prospects have improved since billionaire investor Warren Buffett agreed to support the lender through an equity investment and loans by Berkshire Hathaway, his main company.

MBN

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