Deloitte & Touche LLP     Deloitte & Touche LLP
FAQ


  1. Where can I find out about all the terms of the Settlement?
  2. Is there a summary of the Settlement?
  3. How did the Settlement come about?
  4. How has the public been notified about the Settlement?
  5. Who is a Class Member?
  6. Who is an Excluded Person?
  7. What Book4Golf transactions are included in the Settlement?
  8. What is the Class Period?
  9. Do I have to pay to take part in this Settlement?
  10. What compensation will a Class Member receive under the Settlement?
  11. What is a Net Capital Loss and how is it calculated?
  12. Who received the Notice of Settlement letter from Yorkton by mail?
  13. If I agree with Yorkton?s calculation of my Net Capital Loss, what do I need to do to share in the Settlement?
  14. If I disagree with Yorkton?s calculation of my Net Capital Loss, what do I need to do to share in the Settlement?
  15. Why did my Notice Letter from Yorkton not include a calculation of my Net Capital Loss?
  16. What should I do if I am a class member as defined by the Settlement and I did not receive a Notice Letter from Yorkton by mail?
  17. Who should register a Claim for compensation under the Settlement?
  18. What is the Claims deadline?
  19. What is the deadline to opt out of the Settlement?
  20. How do I register a Claim if I do not have access to a computer with an Internet connection?
  21. Can I amend a Claim after it has been registered?
  22. If I opt out of the Settlement, do I have a right to pursue litigation?
  23. If I register a Claim, do I have the right to pursue litigation?
  24. What is the release in the Settlement?
  25. If I don?t do anything, does this mean I have opted out of the Settlement?
  26. If I don?t do anything, am I bound by the Settlement?
  27. Can I register a Claim for some of my Book4Golf losses and opt out of the Settlement for others?
  28. Can I register a Claim for my Book4Golf losses and pursue litigation in respect of my losses relating to Kasten Chase, Ecom Park and Games Trader?
  29. Are Book4Golf transactions after the Class Period covered under the Settlement Agreement?
  30. If I decide to Opt Out of the Settlement, where do I get an Opt Out Form?
  31. Can the Settlement be terminated?
  32. Who is the Administrator and how is the Administrator appointed?
  33. What does the Administrator do?
  34. How do I contact the Administrator?
  35. Who are Class Counsel?
  36. Who is the Referee and what does the Referee do?
  37. What is the cost of having the Referee review the Administrator?s decision of my Claim?
  38. When will Settlement cheques be sent out to the Class Members?

Where can I find out about all the terms of the Settlement?   [back to top]

The complete details of the Settlement may be downloaded from the Document page of this website. Click here to reach the Document page.


Is there a summary of the Settlement?   [back to top]

The Court approved Notice is a summary of the settlement. Click here to reach the Notice page.


How did the Settlement come about?   [back to top]

The Settlement was the result of negotiations between Class Counsel on behalf of the parties who commenced the Class Actions and the representatives of the Defendants.


How has the public been notified about the Settlement?    [back to top]

Legal notices approved by the Court have been published in the media announcing the Settlement to the Canadian public. Notice has been sent to the last known address of all Yorkton retail clients with Book4Golf securities transactions during the Class Period. The Settlement has been published on this website and the website will be updated regularly with news of the Settlement. The Court has approved this notice program.


Who is a Class Member?    [back to top]

Class Members are persons, wherever resident, except Excluded Persons, who, during the period of October 14, 1999 to June 26, 2002, were retail clients of Yorkton and who purchased shares of Book4Golf on the secondary markets for their Yorkton account(s).


Who is an Excluded Person?    [back to top]

According to the Settlement, Excluded Persons are:

  • past or present employees of Yorkton;
  • Yorkton or any related entities;
  • Paterson and any person or entity who had account(s) at Yorkton in which Paterson had a financial interest in or trading authority over, or any person or entity related to Paterson in respect of whose account Paterson was the registered representative;
  • the Third Parties, Lambert and Portman;
  • any current or former client(s) of Yorkton who are parties to an existing legal action against Yorkton and/or Paterson in which a claim has been asserted in respect of losses arising out of the purchase, sale, holding or trading of securities of Book4Golf and who opt out of this action;
  • any person who has settled claims and/or legal actions against Yorkton in which claims were asserted or could have been asserted in respect of losses arising out of the purchase, sale, holding or trading of securities of Book4Golf;
  • any current or former client of Yorkton who purchased securities of Book4Golf in a private placement or who purchased securities of its predecessor Sommerville Capital Inc. and who subsequently purchased shares of Book4Golf on the secondary markets; and
  • any person or entity whose account at Yorkton was designated as a pro account and who is so identified by Yorkton to the Administrator.

What Book4Golf transactions are included in the Settlement?    [back to top]

Book4Golf purchase and sale transactions by Class Members during the October 14, 1999 to June 26, 2002 Class Period are included in the Settlement.


What is the Class Period?    [back to top]

The Class Period is October 14, 1999 to June 26, 2002. Book4Golf transactions by Class Members during the Class Period are included in the Settlement.


Do I have to pay to take part in this Settlement?    [back to top]

Class Members do not have to pay to take part in the Settlement. The Court has approved the fees to the Administrator and Class Counsel out of the Settlement monies.


What compensation will a Class Member receive under the Settlement?    [back to top]

A Class Member, who does not opt out of the Settlement, will receive an amount up to 16.44% of the Class Member?s Net Capital Loss, as calculated by Yorkton, or as registered by the Class member and approved by the Administrator.


What is a Net Capital Loss and how is it calculated?    [back to top]

The Net Capital Loss is a calculation defined in the Settlement based on the Class Member?s Purchase and Sale transactions of Book4Golf shares during the October 14, 1999 to June 26, 2002 Class Period. The Net Capital Loss is the difference between the Class Member?s Total Purchase Costs (including Commission) and the Class Member?s Total Net Sale Proceeds of Book4Golf shares during the Class Period. Broker Statements are required to support a calculation of Net Capital Loss.


Who received the Notice of Settlement letter from Yorkton by mail?    [back to top]

Yorkton mailed a Notice of Settlement letter (the ?Notice Letter?) to the last known address of each Yorkton retail account with Book4Golf transactions during the October 14, 1999 to June 26, 2002 Class Period.


If I agree with Yorkton?s calculation of my Net Capital Loss, what do I need to do to share in the Settlement?    [back to top]

If you agree with Yorkton?s calculation, you do not need to do anything to share in the Settlement. You will be compensated based on Yorkton?s calculation of your Net Capital Loss.


If I disagree with Yorkton?s calculation of my Net Capital Loss, what do I need to do to share in the Settlement?    [back to top]

If you disagree with Yorkton?s calculation, you must register a claim before the Claim Deadline.


Why did my Notice Letter from Yorkton not include a calculation of my Net Capital Loss?    [back to top]

If the Notice Letter did not include Yorkton?s calculation of your Net Capital Loss, Yorkton?s records indicate that some or all of your Book4Golf securities were transferred out of your Yorkton account for reasons other than a sale of shares.


What should I do if I am a class member as defined by the Settlement and I did not receive a Notice Letter from Yorkton by mail?    [back to top]

If you are a class member as defined by the Settlement and no longer receive mail from the last known address of your Yorkton retail account, you may not have received the Notice letter from Yorkton. Contact the Administrator for information about receiving the Notice Letter prior to registering a claim.

If you are a class member as defined by the Settlement and receive mail at the last known address of your Yorkton retail account, you should register your claim for compensation.


Who should register a Claim for compensation under the Settlement?    [back to top]

Register a Claim for compensation if:

  • The Notice letter received from Yorkton did not contain a Net Capital Loss calculation, or
  • The Net Capital Loss calculation in the Notice letter from Yorkton was inaccurate, or
  • You are a class member and you did not receive a Notice Letter from Yorkton and you have confirmed with the Administrator that you were not included in the Yorkton mailing.

What is the Claims deadline?    [back to top]

The Claims deadline is the last date for registering a Claim under the Settlement. The deadline for registering a claim, and submitting the signed claim with the required supporting documentation to the Administrator is July 10, 2006 at 5:00 p.m. EDT.


What is the deadline to opt out of the Settlement?   [back to top]

The deadline to Opt Out of the Settlement is April 10, 2006. The Administrator must be in receipt of the completed and signed Opt Out Form with supporting documentation by this deadline.


How do I register a Claim if I do not have access to a computer with an Internet connection?    [back to top]

Contact the Administrator who will provide you with a paper version of the Online Claim Form if you do not have access to a computer with a connection to the Internet. Click here to reach the Administrator page.


Can I amend a Claim after it has been registered?    [back to top]

After a Claim has been submitted, you may amend any part of the Claim prior to the Claim Deadline. However, after the deadline, only contact information may be amended.


If I opt out of the Settlement, do I have a right to pursue litigation?    [back to top]

Opting out is the process of excluding yourself from the Settlement. A successful opt out is no longer bound by the Settlement and has the right to pursue litigation.


If I register a Claim, do I have the right to pursue litigation?    [back to top]

No. Unless you opt out of the Settlement, on or before the April 10, 2006 Opt Out deadline, you are bound by the Settlement.


What is the release in the Settlement?    [back to top]

Class Members ?who do not opt out will release the Contributing Parties, the Third Parties, Lambert and Portman from any and all claims they have relating to Book 4 Golf and, in addition, any and all claims they have relating to Kasten Chase, Ecom Park and Games Trader.?


If I don?t do anything, does this mean I have opted out of the Settlement?    [back to top]

No. You must opt out of the Settlement on or before the April 10, 2006 Opt Out deadline if you do not wish to be included in the Settlement.


If I don?t do anything, am I bound by the Settlement?    [back to top]

Yes. Unless you opt out of the Settlement on or before the April 10, 2006 Opt Out deadline, you are bound by the Settlement.


Can I register a Claim for some of my Book4Golf losses and opt out of the Settlement for others?   [back to top]

No. A class member who wishes to opt out must opt out in respect of all Book4Golf transactions covered by the Settlement.


Can I register a Claim for my Book4Golf losses and pursue litigation in respect of my losses relating to Kasten Chase, Ecom Park and Games Trader?   [back to top]

No. You must opt out of the Settlement on or before the Opt Out deadline to pursue litigation. If you opt out, by the Opt Out deadline, the Claim that you registered for your Book4Golf losses will be rejected.


Are Book4Golf transactions after the Class Period covered under the Settlement Agreement?   [back to top]

No. The Settlement defines the Class Period as October 14, 1999 to June 26, 2002. Only transactions by Class Members during the Class Period are included in the Settlement. Book4Golf shares held on June 26, 2002 have been assigned a value of zero for the calculation of Net Capital Loss in this Class Action.


If I decide to Opt Out of the Settlement, where do I get an Opt Out Form?   [back to top]

The Opt Out form may be downloaded from the Forms page of this website.


Can the Settlement be terminated?    [back to top]

No. The Settlement has been approved by the parties and the Court, and cannot be terminated.


Who is the Administrator and how is the Administrator appointed?    [back to top]

Deloitte & Touche LLP has been appointed by the Court as Administrator of this class action Settlement.


What does the Administrator do?    [back to top]

The Administrator administers the Settlement under the direction of the Court. The Administrator evaluates each Claim according to the terms of the Settlement, manages the communication between Yorkton, Class Members and the Referee, prepares a compensation and distribution plan for the Court, and oversees the payment of compensation to Class Members following Court approval of the compensation and distribution plan. For additional responsibilities of the Administrator, please refer to the Settlement documents in the Document section of this website. Click here to reach the Settlement documents.


How do I contact the Administrator?    [back to top]

To contact the Administrator, click here.


Who are Class Counsel?    [back to top]

Class Counsel represented the individuals who commenced the class action. Class Counsel means the law firms of Sutts Strosberg LLP, Koskie Minsky LLP, Groia & Company P.C.. and Docken and Company.


Who is the Referee and what does the Referee do?    [back to top]

Gary Kaplan is the Referee appointed by the Court. The Referee oversees the formal adjudication process for rejected claims. The Referee Process will be posted on the web site and provided to each person whose claim has been rejected by the Administrator.


What is the cost of having the Referee review the Administrator?s decision of my Claim?    [back to top]

A fee of $400 must be deposited with the formal request for Referee adjudication. The Referee shall make his decision within 30 days of receiving all the information that he requires. The $400 will be returned if the person electing the reference is in any way successful on the reference; if the reference is totally unsuccessful, the $400 will not be returned.


When will Settlement cheques be sent out to the Class Members?   [back to top]

The Administrator will evaluate all Claims received by the Claims deadline, and prepare the compensation and distribution plan according to the terms of the Settlement. Once the Court has approved the compensation and distribution plan, Yorkton will issue the compensation cheques to the Class Members.