NAMASTE TECHNOLOGIES INC. SECURITIES
CANADIAN CLASS ACTION SETTLEMENT
This website was updated on July 22, 2020.
Please read this entire message.
Thank you for registering in the portal and we hope you are well.
The online claims administration portal is now closed to the submission of new Claim Forms. You may only edit your existing Claim Form designated "Claim Filed" or "Deficiency" and/or upload outstanding Supporting Documentation to Remedy a Deficiency.
Your Claim Status will remain "Claimed Filed" or "Deficiency" until the Claims Administrator makes a Claim Determination.
Please note that we are processing the 8,101 Claim Forms submitted in the order they were submitted. This process will take a approximately ninety-days.
Please do not call our office just to inquire if we have reviewed your Claim Form or the amount of your pro rata payment. This only slows down the Claim Form adjudication process as it takes time and resources away from actually reviewing the Claim Forms. We will not respond to your phone call or email inquire just asking for the status of your Claim Form or pro rata payment.
We are here to help on all other inquires or need for assistance.
If your Claim Form is designated "Claim Filed", your Claim Form is deemed to have been submitted by the Claim Bar Deadline of July 17, 2020.
The Claim Determination will be posted in your individual claim file in the online claims administration portal. Your pro rata payment will be posted once approved by the Court.
If your Claim is designated as "Deficiency", "Rejected" or "Amended" in your individual claim file in the portal, the Claims Administrator will advise by email the reasons for the "Deficiency", Rejected" or "Amended" Claim.
Deficiency denotes that your Claim Form is incomplete - either lacking the correct calculation for Maximum Entitlement and/or missing the required Supporting Documentation. You will be provided thirty-days (30) to Remedy the Deficiency from the date of the Deficiency Notice.
Rejected denotes that your Shares are not eligible and/or that you failed to provide the required Supporting Documentation. You will be provided fifteen-days (15) to Appeal the Claims Administrator's Claim's Determination from the date of the Rejection Notice. The Appeal's process will be provided in the Rejection Notice.
Amended Approved denotes that you are deemed to be an Authorized Claimant but that your Claim Form has been amended pursuant to the Plan of Allocation. You will be provided fifteen-days (15) to Appeal the Claims Administrator's Claim's Determination from the date of the Amended Approved Notice. The Appeal's process will be provided in the Amended Approved Notice.
Approved denotes that you are deemed to be an Authorized Claimant pursuant to the Plan of Allocation:
"Authorized Claimant" means a Class Member who: (i) submitted a properly completed Claim Form with the calculation of their Maximum Entitlement and all required Supporting Documentation to the Administrator on or before the Claims Bar Deadline; and (ii) is eligible to receive a Distribution from the Compensation Fund;
Timeline for Payment to Authorized Claimants:
- Firstly, we need to adjudicate all 8,101 Claim Forms. This process will take until approximately late October, 2020.
- At that point and time, we shall calculate the pro rata payment for Authorized Claimants.
- Thereafter, we shall petition the Court to authorize Distributions to Authorized Claimants.
- Due to Covid-19, it is impossible to estimate a timeline when the Courts will review our Motion to authorize distributions. Thus, I cannot provide a timeline when payments will be forwarded to Authorized Claimants.
It is important that Class Members and Claimants check the website and/or log into the online claims administration portal on a regular basis for updates in regards to the claims administration and their individual Claim Form.
Please take-care of yourself and others.
Trilogy Class Action Services