Appeal Mr. Ahmed Said reports
STETSON PROVIDES LITIGATION UPDATE
Thomas Weisel Partners Canada Inc. has filed a notice with the Court of Appeal for Ontario to appeal the decision of the Ontario Superior Court of Justice (Commercial List), which found that Thomas Weisel Partners breached its bought deal engagement letter with Stetson Oil & Gas Ltd. dated July 13, 2008. The Ontario Superior Court of Justice (Commercial List) ordered Weisel to pay damages of $16,042,669 plus interest and costs incurred by Stetson in connection with the litigation to compensate Stetson for the damages caused by the 2008 failed bought deal financing. Stetson intends to aggressively defend the appeal by Weisel and pursue its case. Further updates relating to the appeal will be provided by Stetson in due course.
As a result of a 2010 merger transaction, Thomas Weisel Partners Canada has become a subsidiary of Stifel Financial Corp., which is a full-service brokerage and investment banking firm based in St. Louis, Mo.