Welcome to the Kootenay Securities Litigation Website.
If you acquired securities of Kootenay Zinc Corp. (“Kootenay”) [CSE: PKB, OTCQB: PKBFF, FRA: KYH CUSIP: 07470L] from and including January 30, 2018, to and including November 26, 2018, you may be entitled to compensation under the Settlement.
In order to claim compensation from the Settlement Fund, Kootenay Class Members must file a Claim, including all required documentation, before AUGUST 15, 2025.
The information contained on this web page is only a summary of the information presented in more detail in the Settlement Administration Plan.
What the Action is About
On July 11, 2019, an action styled Tietz v BridgeMark Financial Corp., et al., Action No. S- 197731, was commenced in the Supreme Court of British Columbia (Vancouver) (“B.C. Court” and “Action”) against various defendants including Kootenay and certain former directors and executive officers (“Insiders”).
The Action arose from private placements in ten public companies, including Kootenay, between February and August 2018. It alleges that the private placements were part of a fraudulent investment scheme and that the companies entered into consulting agreements with the subscribers to the private placements and their designated associates as a condition of the subscribers’ participation in the private placements.
Specifically, with respect to Kootenay, it is alleged that, between January 30, 2018 and November 26, 2018 (the “Kootenay Class Period”), Kootenay Corp. released certain disclosure documents that were materially misleading as to the true substance and effects of the private placements. The Plaintiffs allege this resulted in damage to Kootenay Class Members.
The Action alleges the scheme was exposed and the alleged misrepresentations were publicly corrected on November 26, 2018, when, among other things, the Executive Director of the B.C. Securities Commission published a news release announcing an ongoing investigation into the private placements.
Kootenay Settlement
On June 4, 2024, the Plaintiffs entered a settlement with Kootenay to entirely resolve the allegations made against it in the Action and to resolve the claims made against the Insiders in their capacities as director and executive officers of Kootenay (“Kootenay Settlement” and “Kootenay Settling Defendants”).
The Kootenay Settlement provides settlement funds of CDN $350,000 (“Kootenay Settlement Fund”).
THE SETTLEMENT ADMINISTRATION ONLY PROVIDES FOR CASH COMPENSATION TO KOOTENAY CLASS MEMBERS.