Intellipharmaceutics International Inc.
(TSX & Nasdaq: IPCI, FRA: I4AA)
Ontario Superior Court of Justice, Court File No.: CV-19-00614686-00CP
THE SETTLEMENT OF THIS ACTION HAS BEEN APPROVED BY THE ONTARIO SUPERIOR COURT OF JUSTICE
READ THIS NOTICE CAREFULLY AS IT MAY AFFECT YOUR RIGHTS
Notice to all all Canadian-resident persons or entities, other than “Excluded Persons”, who acquired common stock of Intellipharmaceutics International Inc. (“IPCI”) during the period from February 29, 2016 to and including July 26, 2017 on the Toronto Stock Exchange, and who held some or all of those securities at the close of trading on July 26, 2017 (“Class” or “Class Members”)
On October 12th, 2021, a settlement in this class action was approved by the court. A copy of the Reasons for Decision and Order approving the settlement may be reviewed below.
The Defendants have agreed to pay or cause to be paid CDN $266,000 to settle the class action. Due to the limited recovery, and the fact that the majority of common shares of IPCI are eligible for compensation under the settlement reached in the class action being litigated against IPCI in the United States, the net settlement amount will not be distributed to Class Members, but rather any amounts remaining after amounts approved by the Court to be paid to the Plaintiff and Class Counsel, will be provided cy près in the amount of approximately CAD$100,000 to the Class Action Clinic at University of Windsor Law School (https://classactionclinic.com/).
For more information, please review the Long-Form Notice of Settlement Approval below. Please contact Class Counsel at [email protected] or call (416) 596-1414 if you have any questions.