OSC v. Caldwell Inv. Mgt. - settlement agreementThe OSC and CIM have come to a settlement agreement, which will be put before a hearing on July 19th for approval. It is uncomon for a settlement agreement not to be approved.
The agreement has not been published by the OSC (and you can dream-on if you think you'll find any of this information on either the Urbana or CIM websites) but it was critical for CIM to come to an agreement - the publicity from a lengthy and public hearing and airing of all the misdeeds could well have been fatal for CIM.
We'll need to wait to understand the effects of the agreement on Urbana but I see that CIM has already been replaced as asset manager on a small, underperforming fund, likely as a consequence of the OSC action. We can only hope for the same for Urbana.