Kew Media Group Class Action
Court:
Ontario Superior Court of Justice
Class Members:
If you acquired KEW Securities between March 28, 2017 and January 16, 2020, you may be a member of the proposed class.
Co-counsel:
Foreman & Company is working with Kalloghlian Myers to prosecute this matter.
The content of this page has not been approved by the Court nor does it constitute legal advice. It is for the purpose of providing general information only.
Case Contacts
On December 11, 2019, the company commenced a series of announcements that certain reports provided by its (now former) CFO, to the company and its senior lenders, contained inaccurate information regarding working capital. The action alleges that when the truth of this information was revealed, the price of KEW shares dropped significantly, causing damages to KEW’s shareholders. The company was delisted from the Toronto Stock Exchange effective April 9, 2020.
This action was commenced to recover losses suffered by shareholders. The case alleges that the company and certain of its officers and directors breached the Ontario Securities Act by making misrepresentations and/or by failing to make timely disclosure of material financial information.
This action seeks to recover shareholders’ losses during the period of March 28, 2017 and January 16, 2020.
Case History
On July 14, 2020, the Plaintiffs were granted leave by the Court to issue and serve the Statement of Claim.
On July 20, 2020, the Plaintiffs issued their Statement of Claim.
On September 27, 2021, the Ontario Superior Court of Justice certified this action as a class action and granted leave to the Plaintiffs to pursue their claims under the Ontario Securities Act as against the individual defendants, Geoffrey Webb and Steven Silver.
On November 2, 2023, the Ontario Superior Court of Justice certified this action against Kew Media Group Inc. and granted leave to the Plaintiffs to pursue their claims against Kew Media Group Inc. under the Ontario Securities Act.
Certification means that the lawsuit meets the requirements for a class action and may proceed to trial.
Next Steps
The parties will now engage in a process known as discovery where they exchange relevant documents and examine representative witnesses for each side.
Opting-Out
If you did not want to be bound by the class action, you must have opted-out of the action by January 10, 2022. If you did not previously opt-out of the action you are legally bound to any future judgments in the case. There is no further opportunity to opt-out.
Class Members
Inquiries should be directed to:
Email:
classactions@foremancompany.com
Phone:
Kassandra Gauld - 519.914.1175 x 106
Anni Barry - 519.914.1175 x 107
Mail correspondence should be directed to:
Foreman & Company
Attention: Jonathan J. Foreman
4 Covent Market Pl
London, ON N6A 1E2
Court Documents Related to this Case
Notice of Certification and Leave to Proceed under the Securities Act