TORONTO, Aug. 21, 2017 /CNW/ - Home Capital Group
Inc. ("Home Capital" or "the Company") (TSX: HCG) today announced
that the Ontario Superior Court of Justice will issue an order
approving the previously announced settlement of a class action
commenced in February 2017 regarding
the Company's disclosure in 2014 and 2015.
As previously announced, the Company entered into two agreements
which comprise a global settlement of the class action and a
related proceeding commenced by the Ontario Securities Commission
("OSC") with each settlement being conditional on the approval of
the other. The settlement of the OSC proceeding was approved on
August 9, 2017 such that both
settlements have now been approved.
Pursuant to the terms of the settlement agreement with the OSC,
Home Capital will not be making any further statements on this
matter outside of the approval proceedings.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the
meaning of applicable Canadian securities legislation. Please refer
to Home Capital's 2016 Annual Report, available on Home Capital's
website at www.homecapital.com, and on the Canadian Securities
Administrators' website at www.sedar.com, for Home Capital's
Caution Regarding Forward-looking Statements.
About Home Capital Group Inc.
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 insured residential mortgage products, consumer
lending and credit card services. In addition, Home Trust offers
deposits via brokers and financial planners, and through its direct
to consumer deposit brand, Oaken Financial. Home Trust also
conducts business through its wholly owned subsidiary, Home Bank.
Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia,
Quebec and Manitoba.
SOURCE Home Capital Group Inc.
