Canadian Class Action Claim Filed Against Philip Services.HAMILTON, Ontario--(BUSINESS WIRE)--Oct. 27, 1998-- Philip Services Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :PHV PHV Plug-in Hybrid Vehicle PHV Peak Height Velocity PHV Peak Hour Volume (traffic & transportation engineering) PHV Protocol Handler (CDMA voice) PHV Protocol Handler for Voice .) (ME:PHV.) (NYSE NYSE See: New York Stock Exchange :PHV)--Philip Services Corp. today announced that a Statement of Claim, brought under the Ontario Class Proceedings Act was served yesterday on Philip Services, the underwriters of its November 1997 public offering, and the Company's auditors, Deloitte & Touche. The claim was brought on behalf of persons in Canada who purchased common shares of Philip Services from November 6, 1997 to December 18, 1997, and also seeks damages on behalf of persons in Canada who purchased Philip common shares from May 21, 1996 to April 23, 1998. The claim contains various allegations, largely a repetition REPETITION, construction of wills. A repetition takes place when the same testator, by the same testamentary instrument, gives to the same legatee legacies of equal amount and of the same kind; in such case the latter is considered a repetition of the former, and the legatee is entitled of those made in a similar US class action suit. The Company is conducting a thorough review of the claim, and will defend itself against these allegations. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion