Class Action - HMS Financial Inc.

Discontinuance of Action
Statements of Defence Filings
Praecipes Filings

  1. Cuming & Gillespie, along with the firm of McLennan Ross LLP (“Class Counsel”), has issued a class action law suit against HMS Financial Inc. and numerous related entities as a result of an investment scheme that resulted in the loss of millions of dollars to investors.
  2. The Statement of Claim was issued on June 2, 2005 bearing Queen’s Bench Action # 0501 08152 and the Amended Statement of Claim was issued on August 19, 2005. An Order dated October 11, 2005 was granted by the Honourable Mr. Justice S.J. Lovecchio allowing service ex juris of the Amended Statement of Claim and Notice to Defendants as well as other documents.
  3. The matter is currently under Case Management by the Honourable Mr. Justice J.D. Rooke of the Court of Queen’s Bench in Calgary, Alberta.
  4. An Order dated May 18, 2006 was granted by the Honourable Mr. Justice J.D. Rooke extending the time for service of the Amended Statement of Claim for three months until September 2, 2006.
  5. A further Order dated June 13, 2006 was granted by the Honourable Mr. Justice J.D. Rooke allowing service ex juris, substitutional service, and deeming service good and sufficient on certain Defendants.
  6. The first Case Management Conference (“CMC”) meeting before Mr. Justice Rooke occurred on June 23, 2006. The Minutes of the CMC, and all other documents, can be downloaded from this website.
  7. A further Order dated June 23, 2006 was granted by the Honourable Mr. Justice J.D. Rooke allowing the Plaintiffs to file an Amended Amended Statement of Claim provided no objections were made to the Defendants prior to July 14, 2006.
  8. Pursuant to the directions for substitutional service against certain Defendants contained in the Order dated June 13, 2006, it is contemplated that a notice will be published in a number of newspapers referencing this website.
  9. Attached is the client update of December 15, 2006.
  10. Attached is the client update as of August 7, 2007. 
  11. Amended order dated October 29th, 2007.
  12. Certification Order dated April 2, 2009 and filed April 3, 2009
  13. Amended Amended Amended Statement of Claim – April 15, 2009
  14. Attached is the client update as of June 29, 2009 and the Notice of Class Proceeding dated June 29, 2009
  15. Attached is the client update as of Dec. 15, 2009
  16. March 29, 2010 – Cuming Gillespie Lawyers and McLennan Ross LLP are pleased that the RCMP is moving forward with charges against some of the principals of the HMS Investment Scheme. We will continue to push forward in civil court with the certified class action lawsuit in an effort to assist victims with recouping their losses.
  17. September 2, 2010 – Attached are time sensitive client updates for September 2, 2010. View them by clicking on the links to the right or by clicking here and here.
  18. Attached is the Notice of Class Re-settlements as of Nov. 4, 2010
  19. Attached is the Notice of Class Re-Claim as of Nov. 15, 2010
  20. Attached is the CLARIFICATION for Notice of Class Re-Claim as of Nov. 15, 2010
  21. ALL DOCUMENTS REFERRED TO IN THIS DESCRIPTION OF THE ACTION MAY BE DOWNLOADED FROM THIS WEBSITE. IN THE EVENT THAT THERE IS ANY DIFFICULTY DOWNLOADING A DOCUMENT(S) FROM THIS WEBSITE, PLEASE E-MAIL [email protected] OR FAX 403 232-8818 AND A COPY OF THE DOCUMENT(S) WILL BE PROVIDED TO YOU.


Statement of Claim

Amended Statement of Claim

Order dated October 11, 2005

Order dated June 13, 2006

Order dated June 13, 2006

Minutes of the CMC

Order dated June 23, 2006

Certification Order April 2, 2009 and filed April 3, 2009

Amended Amended Statement of Claim April 15, 2009

Order dated September 1, 2006

Certification Update April 26, 2007

Notice of Class Proceeding June 2009

Amended order dated October 29, 2007

Amended Amended Amended Statement of Claim

Client Update June 29, 2009

Client Update December 15, 2009

Client Update September 2, 2010

Client Update RE: Email Addresses September 2, 2010

Notice of Class Re-settlements November 4, 2010

Notice of Class ReClaim November 15, 2010

CLARIFICATION – Notice of Class ReClaim November 15, 2010

Notice to Class – Notice of Application for Court Approval for Settlement May 17, 2011

Notice to Class – Notice of New Members May 18, 2011

Notice to Class – CIBC Settlement June 22, 2011

Notice to Class – Fund Distribution July 13, 2011

Notice of Claims Process Aug. 10, 2011

HMS Court Order Feb. 2, 2011

HMS Court Order SEAL Feb. 2, 2011

HMS Court Order Mar. 17, 2011

HMS Court Order SEAL Mar. 17, 2011

HMS Court Order May 16, 2011

HMS Court Order May 17, 2011

HMS Court Order May 26, 2011

HMS Court Order June 15, 2011

HMS Court Order July 12, 2011

HMS Court Order July 26, 2011

HMS Court Order CIBC July 26, 2011

HMS Court Order Aug. 5, 2011

HMS Court Order Oct. 28, 2011

HMS Court Order Nov. 9, 2011

HMS Court Order Dec. 2, 2011

HMS Court Order February 14, 2012

HMS Court Order May 2, 2012

HMS Court Order May 8, 2012

HMS Court Order June 28, 2012

HMS Court Order September 12, 2013

HMS Court Order 2 September 12, 2013

HMS Court Order April 29, 2015

HMS Court Order May 21, 2015

HMS Court Order July 16, 2015

HMS Court Order September 19, 2016


Court Order Approving Claims Dec. 9, 2011

Court Order Approving Claims – Supplemental Jan. 16, 2012