TORONTO--(BUSINESS WIRE)--Home Capital Group Inc. (“Home Capital” or “the Company”) (TSX: HCG) announces that a settlement has been reached with West Face Long Term Opportunities Global Master LP, a Cayman Islands limited partnership which opted out of a global settlement of a securities class action made by the Company in 2017.
The settlement is a compromise of a disputed claim and is not an admission of liability or wrongdoing by the Company or any other defendant named in the action nor has there been any finding of liability by the Court against any of them.
The amount of the charge taken to arrive at this settlement is not material to the financial results of the Company.
About Home Capital: Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through a direct-to-consumer brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, we have offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.