FMF Capital Group Ltd. Class Action - Settlement

In March 2005, FMF Capital Group Ltd. ("FMF") issued securities in an initial public offering ("IPO") to the Canadian public. The IPO was underwritten by a syndicate of 6 underwriters, led by BMO Nesbitt Burns, Inc. ("Nesbitt Burns"), and was effected pursuant to a prospectus. Following the IPO, FMF's securities began to trade over the Toronto Stock Exchange ("TSX").

On December 1, 2005, the law firm of Juroviesky and Ricci LLP filed a class action in the Oakland County Circuit Court, state of Michigan, on behalf of purchasers of FMF securities. The law suit sought to pursue remedies under the relevant Michigan Statutes, and certain common law doctrines.

On January 25, 2006, the law firm of Siskinds LLP filed a class action in the Ontario Superior Court of Justice on behalf of two individual investors who purchased FMF securities in the IPO, and subsequently over the TSX. Siskinds’ Québec affiliate, Siskinds Desmeules, also filed in the province of Quebec.

The Class Actions named as defendants FMF, the underwriters of the IPO (including Nesbitt Burns), FMF's auditors, certain officers and directors of FMF and others. The Class Actions alleged that the prospectus contained misrepresentations, and that, subsequent to the IPO, certain of the defendants issued statements to the investing public that contained further misrepresentations.

As of November 29, 2006, the Defendants and Plaintiffs have entered into a settlement agreement. The settlement agreement was approved by orders of the Ontario Superior Court of Justice and the Québec Superior Court.

IN ORDER TO PARTICIPATE IN, OR OPT-OUT OF, THIS SETTLEMENT, YOU WILL BE REQUIRED TO COMPLETE A CLAIM/OPT-OUT FORM AND SUBMIT SUCH FORM [AND OTHER REQUIRED DOCUMENTATION] TO THE CLAIMS ADMINISTRATOR (DELOITTE AND TOUCHE LLP) IN ACCORDANCE WITH THE INSTRUCTIONS OUTLINED IN THE ‘NOTICE OF CERTIFICATION AND APPROVAL OF SETTLEMENT AGREEMENT [LONG FORM APPROVAL NOTICE]’ PRIOR TO THE EXPIRATION OF THE RELEVANT TIME PERIOD.

For the contents of the settlement agreement and/or other settlement documents, please see the following files/links:

For further information concerning this action, please contact our firm’s Class Action Administration line at 1-877-578-7529 Ext. 450, or email us at info@jrclassactions.com.

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