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proposed settlement has been reached in the class action lawsuit Ganong v. Northwynd, which will provide compensation to investors in the Northwynd Real Estate Investment Trust (Northwynd REIT). The lawsuit was filed by Burnet, Duckworth & Palmer LLP on behalf of individuals who held Series A and B trust units in the Northwynd REIT between June 3, 2014 and January 16, 2017.
In September 2021, a Certification Order was issued by Justice R. A. Neufeld, certifying the class action against various parties involved with the Northwynd REIT. The proposed settlement requires Defendants to pay compensation to unitholders, pending court approval.
A hearing is scheduled for December 19, 2024 in Calgary to review the settlement. Details of the Settlement Agreement and information on the settlement can be found at northwyndclassaction.com.
