JSS Barristers has commenced proposed class actions in Alberta and British Columbia on behalf of APX shareholders in an attempt to recover their investment losses in APX. APX shares were halted on November 6, 2013 after it became clear that APX's board of directors had lost control of the company's sole material assets, being subsidiaries operating in China.
The claims allege that APX's former directors and auditors acted in breach of their duties and that they made misrepresentations regarding the true state of affairs of APX.
Notice Regarding Settlement
On November 1, 2018, Madam Justice G.A. Campbell of the Alberta Court of Queen's Bench approved the partial settlement of the APX Class Action against Manning Elliott LLP. This settlement concludes the action.
The Settlement resulted in a further payment of $350,000 to the Class, less fees and disbursements.
A copy of the Order approving the settlement can be found here: