TORONTO, ONTARIO--(Marketwired - Dec. 20, 2013) -Stetson Oil & Gas Ltd. (TSX VENTURE:SSN), a Forbes & Manhattan Energy Group Company, has received notice from the Court of Appeal for Ontario that the appeal by Stifel Nicolaus Canada Inc. (formerly Thomas Weisel Partners Canada Inc.) is scheduled to be heard on March 6, 2014. Stifel Nicolaus is appealing the judgment of the Ontario Superior Court of Justice (Commercial List) delivered on March 1, 2013 ordering it to pay Stetson damages for breach of contract of $16,042,669, plus an additional judgment delivered on August 12, 2013 awarding Stetson interest and costs of $4,018,387.55. The judgments were in relation to the failed 2008 bought deal financing.
Stetson, along with its legal advisors, has fought hard over the past four years to ensure a fair outcome to the litigation. The Company has undertaken all reasonable efforts to expedite the process and will continue to aggressively defend the appeal by Stifel Nicolaus and Stetson will provide updates in due course.
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https://www.stockhouse.com/news/press-releases/2013/12/20/stetson-litigation-update-appeal-by-stifel-nicolaus-canada-scheduled-to-be#bbI75ruWX5MiPccF.99