Client Update - HMS Financial
October 10th, 2009McLENNAN ROSS LLP / CUMING & GILLESPIE LAWYERS
We are pleased to report that on June 23, 2009, Judge Miller of the United States District Court of Southern California granted our Motion to Intervene in the Interpleader Application in San Diego. Jude Miller ordered that only directly traceable claims are to be recognized, that the aggregators with directly traceable claims will not be recognized and must await the outcome of the Canadian action and that the funds remaining after the directly traceable claims and administrative expenses are paid will be paid into court in our action.
This successful application is the result of several years work, and we are pleased with the outcome.
On another note, on or about June 12, 2009, the Notice of Class Action was sent to the last known address for any investors we had record of, other than those investors who have already signed a Contingency Fee Agreement with us. These investors will have 60 days to Opt Into (for Non-Alberta residents), or Opt-Out of (for Alberta Residents) the Class Action.
We are also in the process of exchanging document productions with Defendants, and scheduling Examinations for Discoveries of those parties on their documents throughout the coming summer and fall.
We will continue to update you with any news if there is anything to update you with. But please remember that we ask that you not call or e-mail for updates. It is very time consuming and expensive for us to deal with clients seeking individual updates, so please understand that if you do not receive an update for several months, this means that there is nothing newsworthy to share with you.
Thank you for your understanding.
Yours truly,
Lynn Dechaine (for Graham McLennan)
Paralegal - Litigation
McLennan Ross LLP
Toll Free: 1-800-567-9200
Direct Line: (780) 482-9281
Fax: (780) 482-9100