Common use of Class Action Claims Clause in Contracts

Class Action Claims. We will, in our sole discretion, determine what role we will take in any legal proceedings affecting any securities held in your Account. BPIC has engaged Broadridge Investor Communication Solutions, Inc. (“Broadridge”) to file claims on your behalf in certain securities class action lawsuits and disgorgements ordered by Canadian or U.S. regulators identified by Broadridge (“Class Action Service”). It is intended that the Class Action Service will commence in January 2022. You will be automatically enrolled in this Class Action Service once it commences or the date on which you opened your Account, whichever is later. Broadridge’s fee for this service is a contingency fee of 10 of any of the class action recoveries you receive through the Class Action Service, which fee will be deducted from any recoveries that are credited to your Account. We will not charge you our own fee, and do not receive any direct fee from Broadridge, with respect to the Class Action Service with Broadridge. If you wish for your Account to be removed from the Class Action Service, please speak with your Investment Counsellor. Prior to the commencement of the Class Action Service, and for any eligible class actions not part of the Class Action Service, or in the event that BPIC’s engagement with Broadridge is terminated, we may, in our sole discretion process class action claims on your behalf or may enlist another company or firm to exercise such discretion (a “Third Party”). The actions in the Class Action Service shall be limited to “opt- out” cases and eligibility to participate in the class is based solely on sales and purchases of securities in your Account. Under the Class Action Service, claims will only be filed once a court or administrative order has been issued that sets forth a claim filing deadline. An “opt-out” case means all eligible security holders are automatically considered to be part of the class and if an individual does not wish to be part of the class action lawsuit, they must actively opt-out of the class. The Class Action Service will only cover those securities that were purchased while you were a client of BPIC. It will not include securities that you purchased other than through BPIC. For the avoidance of doubt, the Class Action Service does not include any lawsuit which requires prospective class members to provide additional evidence of eligibility other than purchases and sales of the applicable security, including but not limited to evidence of actual or individual reliance on allegedly fraudulent or misleading statements. The Class Action Service shall not include consumer class action settlements or bankruptcies and, generally, class actions that do not involve publicly traded securities or “opt-in” cases, being those cases where a person must provide express consent (“opt-in”) to be part of the class. With “opt-out” class actions, all class members are bound by the outcome of the class action unless a member actively opt-outs. This means that class members who do not opt-out may not bring individual cases. Therefore, for all claims filed on your behalf, either pursuant to the Class Action Service or by BPIC or a Third Party, you acknowledge and agree that you will be bound by, and subject to, the terms of all forms and releases that may be entered into for settlements in which a claim is filed on your behalf, and may not bring your own individual case. You will not be notified of each action in which you are enrolled under the Class Action Service; if at any time you wish to know your participation or status of any actions, please speak with your Investment Counsellor. The receipt of any settlement amounts may subject you to tax on such amounts, including in foreign jurisdictions. There may be tax implications to receiving settlement proceeds. You are responsible for any tax liabilities (including any tax filing obligations) associated with participation in the Class Action Service. You may not receive a tax receipt in connection with settlement proceeds that are deposited into one of your registered plans (registered savings plans, retirement income funds and/or tax-free savings accounts). If you require tax advice, please contact your personal tax advisor. For avoidance of doubt, you acknowledge that BPIC cannot and shall not provide legal, tax or other professional advice to you or any other party in respect to any class action. You shall seek and obtain your own legal, accounting and other professional advice as you shall see fit, independent of BPIC. In connection with any claims processing, claims administrators require BPIC (or Broadridge or a Third Party) to provide all necessary information in its possession regarding class actions. This information will include your name, address, securities holding, trade information and, in certain cases, social insurance number. As part of the Class Action Service, Broadridge has agreed to maintain your personal information in a confidential manner and not use the information other than for the purpose of processing claims. Notwithstanding the above, neither we nor Broadridge, nor any Third Party, will process any class action or disgorgement claims on your behalf or take any action whatsoever with respect to class actions or disgorgements if your Account is closed. Accordingly, you have an obligation to keep track of class actions and disgorgements in the event that your Account is closed. If a claim was processed prior to your Account being closed, and the settlement funds received after the Account is closed, a cheque will be mailed to your last known address provided to BPIC. BPIC may terminate its engagement with Broadridge in its sole discretion; if so terminated BPIC will retain the right, in its sole discretion, to determine what role it will take in any legal proceedings affecting any securities held in your Account. It is not our current practice to take the role of lead plaintiff on class actions, but we may in our sole discretion decide to do so in the future. For any class action claim that we handle outside of the Class Action Service, we may charge you a reasonable fee for the filing of each class action claim, which, if applicable, will be charged quarterly. We may choose not to file a class action claim on your behalf, including in instances where we believe that the proceeds of settlement of a class action claim may not cover the filing fee.

Class Action Claims. We will, in our sole discretion, determine what role we will take in any legal proceedings affecting any securities held in your Account. BPIC has engaged Broadridge Investor Communication Solutions, Inc. (“Broadridge”) to file claims on your behalf in certain securities class action lawsuits and disgorgements ordered by Canadian or U.S. regulators identified by Broadridge (“Class Action Service”). It is intended that the Class Action Service will commence in January 2022. You will be automatically enrolled in this Class Action Service once it commences or the date on which you opened your Account, whichever is later. Broadridge’s fee for this service is a contingency fee of 10 10% of any of the class action recoveries you receive through the Class Action Service, which fee will be deducted from any recoveries that are credited to your Account. We will not charge you our own fee, and do not receive any direct fee from Broadridge, with respect to the Class Action Service with Broadridge. If you wish for your Account to be removed from the Class Action Service, please speak with your Investment Counsellor. Prior to the commencement of the Class Action Service, and for any eligible class actions not part of the Class Action Service, or in the event that BPIC’s engagement with Broadridge is terminated, we may, in our sole discretion process class action claims on your behalf or may enlist another company or firm to exercise such discretion (a “Third Party”). The actions in the Class Action Service shall be limited to “opt- out” cases and eligibility to participate in the class is based solely on sales and purchases of securities in your Account. Under the Class Action Service, claims will only be filed once a court or administrative order has been issued that sets forth a claim filing deadline. An “opt-out” case means all eligible security holders are automatically considered to be part of the class and if an individual does not wish to be part of the class action lawsuit, they must actively opt-out of the class. The Class Action Service will only cover those securities that were purchased while you were a client of BPIC. It will not include securities that you purchased other than through BPIC. For the avoidance of doubt, the Class Action Service does not include any lawsuit which requires prospective class members to provide additional evidence of eligibility other than purchases and sales of the applicable security, including but not limited to evidence of actual or individual reliance on allegedly fraudulent or misleading statements. The Class Action Service shall not include consumer class action settlements or bankruptcies and, generally, class actions that do not involve publicly traded securities or “opt-in” cases, being those cases where a person must provide express consent (“opt-in”) to be part of the class. With “opt-out” class actions, all class members are bound by the outcome of the class action unless a member actively opt-outs. This means that class members who do not opt-out may not bring individual cases. Therefore, for all claims filed on your behalf, either pursuant to the Class Action Service or by BPIC or a Third Party, you acknowledge and agree that you will be bound by, and subject to, the terms of all forms and releases that may be entered into for settlements in which a claim is filed on your behalf, and may not bring your own individual case. You will not be notified of each action in which you are enrolled under the Class Action Service; if at any time you wish to know your participation or status of any actions, please speak with your Investment Counsellor. The receipt of any settlement amounts may subject you to tax on such amounts, including in foreign jurisdictions. There may be tax implications to receiving settlement proceeds. You are responsible for any tax liabilities (including any tax filing obligations) associated with participation in the Class Action Service. You may not receive a tax receipt in connection with settlement proceeds that are deposited into one of your registered plans (registered savings plans, retirement income funds and/or tax-free savings accounts). If you require tax advice, please contact your personal tax advisor. For avoidance of doubt, you acknowledge that BPIC cannot and shall not provide legal, tax or other professional advice to you or any other party in respect to any class action. You shall seek and obtain your own legal, accounting and other professional advice as you shall see fit, independent of BPIC. In connection with any claims processing, claims administrators require BPIC (or Broadridge or a Third Party) to provide all necessary information in its possession regarding class actions. This information will include your name, address, securities holding, trade information and, in certain cases, social insurance number. As part of the Class Action Service, Broadridge has agreed to maintain your personal information in a confidential manner and not use the information other than for the purpose of processing claims. Notwithstanding the above, neither we nor Broadridge, nor any Third Party, will process any class action or disgorgement claims on your behalf or take any action whatsoever with respect to class actions or disgorgements if your Account is closed. Accordingly, you have an obligation to keep track of class actions and disgorgements in the event that your Account is closed. If a claim was processed prior to your Account being closed, and the settlement funds received after the Account is closed, a cheque will be mailed to your last known address provided to BPIC. BPIC may terminate its engagement with Broadridge in its sole discretion; if so terminated BPIC will retain the right, in its sole discretion, to determine what role it will take in any legal proceedings affecting any securities held in your Account. It is not our current practice to take the role of lead plaintiff on class actions, but we may in our sole discretion decide to do so in the future. For any class action claim that we handle outside of the Class Action Service, we may charge you a reasonable fee for the filing of each class action claim, which, if applicable, will be charged quarterly. We may choose not to file a class action claim on your behalf, including in instances where we believe that the proceeds of settlement of a class action claim may not cover the filing fee.