Canadian Tire Corp., Pioneer Energy LP and Mr. Gas Ltd.
Canadian Tire Corp., Pioneer Energy LP and Mr. Gas Ltd. pleaded guilty to fixing retail gasoline prices in Kingston and Brockville, Ontario, between May and November, 2007.
Canadian Tire Corp. agreed to pay a $900,000.00 fine, Pioneer Energy LP a $985,000.00 fine and Mr. Gas Ltd. a $150,000.00 fine.
We are investigating the possibility of a class action on behalf of consumers who purchased gas in Kingston and Brockville, Ontario between May and November, 2007.
Consumers in Kingston and Brockville were denied a competitive price for gasoline as a result of this price-fixing activity.
If you purchased gasoline from any of these companies in Kingston or Brockville between May and November, 2007, we are interested in speaking with you.
Please contact as soon as possible either directly by telephone or by email.
SNC LAVALIN GROUP INC.
On February 28, 2012, SNC Lavalin Group Inc. issued a press release which caused its shares to drop on the TSX by more than 20% on high volume.
The press release indicates that the company’s 2011 net income in expected to be 18% (or approximately $80 million) below its previously announced 2011 outlook.
This is said to arise from loss of approximately $23 million on projects in Libya and other expenses recorded in the fourth quarter of 2011.
The Board of Directors has initiated an independent investigation and retained independent legal counsel in that regard.
The company indicates it is working toward announcing and filing its 2011 fourth quarter and year-end financial results as soon as reasonably possible and prior to March 30, 2011.
We are monitoring the stock price and any further announcements or developments in this matter.
We are investigating the possibility of a class proceeding to be brought on behalf of stockholders whose stock value was materially impacted.
If you are a stockholder and/or having information in connection with this matter, we encourage you to please contact us.
LEVERAGED CHARITABLE DONATION PROGRAMS
We are investigating the possibility of a class proceeding claim relating to specific leveraged charitable donation programs.
Under these programs, donations are solicited and a portion of the funds paid by donors are donated to a charitable foundation with the donor borrowing the balance from a company said to be independent. Part of the cash donation is a security deposit on the loan that covers the difference between the amount actually paid and a total donation receipt.
The total donation receipt is for an amount in excess of the amount actually being paid in cash by the donor.
Some programs represent that the security deposit amount will be invested in a fund which will generate a return such that the returns will be used to fully satisfy the loan.
These programs allow participants to borrow approximately 85% of the total amount to be donated with only approximately 15% actually being provided in cash by the donor. A loan is obtained for the balance over a ten year period with donors being told that they will not be called upon to make payment of the loan.
The charitable donation credits being claimed by donors have been disallowed by the Canada Revenue Agency and some individuals are now being called upon to make payment of the loans.
We are investigating this situation with a view to possibly commencing action on behalf of donors who now find themselves being reassessed by Canada Revenue Agency, liable for payment of interest and penalties and facing the prospect of liability under the promissory notes executed in respect of the loans taken.
If you have any information in connection with leveraged charitable donation programs or have participated in such a program and wish to share your information with us, please feel free to contact us.
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