OTCPK:BLGFF - Post by User
Post by
Loonyon Aug 18, 2010 9:17am
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Post# 17360388
NR lawsuit settled.
NR lawsuit settled.Bear Lake lawsuit settlement receives court approval
2010-08-18 08:10 ET - News Release
Mr. Francois Viens reports
BEAR LAKE GOLD ANNOUNCES COURT APPROVAL
Bear Lake Gold Ltd. has released an update. On Aug. 10, 2010, theOntario Superior Court of Justice approved the plaintiff's motion forcertification and settlement of a proposed class action therebydismissing the proposed lawsuit and all related claims. As previouslyannounced, the proposed class action lawsuit was filed as reported inStockwatch news on Aug. 25, 2009, in the Ontario Superior Court ofJustice against the company and certain of its current and formerofficers and directors, alleging certain misrepresentations were madeduring the period from July 18, 2006, to July 28, 2009, regarding BearLake's Larder Lake project. As reported in Stockwatch news on April 5,2010, and April 13, 2010, the company announced that an agreement inprinciple had been reached to settle the proposed lawsuit. Thesettlement agreement provides for the settlement, release and dismissalof all claims asserted against the company and the individual proposeddefendants and does not in any way contain or constitute any admissionof liability by the company or its officers, directors or employees.