THIS NOTICE AFFECTS YOUR LEGAL RIGHTS
A class action has been certified by the B.C. Supreme Court in 0116064 B.C. Ltd. v. Alio Gold Inc. et al. S.C.B.C. No. S194929. The action was certified on July 28, 2023
The class action has been certified on behalf of all Individuals or entities, wherever they may reside or be domiciled, excluding the defendants, whose Rye Patch Gold Corp. shares were acquired by Alio Gold Inc. ("Alio") in exchange for Alio shares and cash, on or about May 25, 2018 (the "Class"), but excludes those Individuals or entities who sold their Alio shares prior to August 10, 2018. The court has appointed 0116064 B.C. Ltd. as the representative plaintiff.
What is the class action about?
The class action alleges that Alio and certain individuals made certain negligent and fraudulent misrepresentations in connection with Alio's acquisition of Rye Patch Gold Corp. shares in the spring of 2018, particularly with respect to Alio's anticipated gold production for 2018.
The defendants deny the allegations, which have not been proven, and are defending the action.
How do I participate?
You are automatically included in the Class. You do not have to do anything to participate. If you do not want to be part of the class action, you must notify class counsel in writing at the address below by no later than December 31, 2023, providing your name and address and indicating that you wish to opt out.
What are the financial consequences?
Judgment on the common issues for the Class, whether favourable or not, will bind all class members who do not opt out of the proceeding. If the Class obtains recovery against the defendants, then you will be entitled to share in the recovery. If you opt out of the class action, you do not have this right.
If the action is successful on the common issues, no class member will be responsible for legal fees or costs. The representative plaintiff has entered into a contingency fee agreement with class counsel for the legal work on the common Issues. Class counsel will be paid only If the action is successful. The court will determine the amount to be paid to class counsel for legal fees and disbursements.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
