NAMASTE TECHNOLOGIES INC. SECURITIES
CANADIAN CLASS ACTION SETTLEMENT
This website was updated on January 14, 2021.
We would greatly appreciate if you do not call or email our office to inquire if we have reviewed your Claim Form or the amount of your pro rata payment. We are here to help on all other inquires or need for assistance.
Pursuant to the Plan of Allocation, paragraph 17:
“Once the Administrator determines that a Claimant is an Authorized Claimant, the respective number of his, her or its Qualified Shares and his, her or its Maximum Entitlement and Pro Rata Distribution from the Compensation Fund, the Administrator shall advise the Claimant of the Administrator’s decision by posting it on the Claimant’s online claim file.”
Please note that we are processing the 8,101 Claim Forms submitted in the order they were submitted. This process will take until the end of February 2021 due to the state of emergency declared in Ontario. Your Claim Status will remain "Claimed Filed" or "Deficiency" until the Claims Administrator makes a Claim Determination. 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;
Once the thirty-day appeals timeline expires, we shall file a Motion requesting that the Court approve the redacted Approved Claimants list and pro rata payment amounts to allow the Claims Administrator to make Distributions.
Timeline for Payment to Authorized Claimants:
- Firstly, we need to adjudicate all 8,101 Claim Forms.
- 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, we cannot provide a timeline when payments will be forwarded to Authorized Claimants.
- We shall be mailing cheques. Please do not send us your bank account information.
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.
If you have forgotten your password, please follow the steps below:
- Click on Forgot your Password on the Login Page.
- Enter the email address you used to register for the portal, or the one you put on your paper Claim Form that was submitted via fax or postal mail. Press “Recover Account”. A password reset email will be sent to your inbox with instructions on how to change your password. Please check your junk/spam folder if you do not see the email in your inbox within 10 minutes.
Please note: if you did not have an email address at the time of submitting your Claim Form, or you have since changed your email address and no longer have access to the previous email address, please send Trilogy an email with the updated email address, and will will assist you. You may be required to answer verification questions to confirm we have the correct individual.
Please take-care of yourself and others.
Trilogy Class Action Services