Final agreement reached on Norbourg

The curtain appears set to fall on the Norbourg saga, as all parties involved in the legal actions have signed a final agreement to pay $55 million to the victims of the fraudulent investment scheme.

The settlement will be submitted to Superior Court Judge Andre Prevost on March 14, 2011, for approval.

All Norbourg and Evolution investors as of August 24, 2005 will be notified that a petition on behalf of Real Ouimet in respect of the motion to initiate a class action against the Caisse de depot et placement du Quebec will also be submitted to the court.

The notice will also mention how this settlement will impact the investors in the Perfolio class action.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.