The settlement approval hearing was held before Justice McDonald, over a period of 2 days (July 16-17, 2024).

As you are likely aware, the proposed Final Settlement Agreement outlines a monetary assessment scheme, as well as numerous systemic relief measures aimed at dismantling systemic racism with the CAF.

For class actions, before a settlement can be implemented, it needs to be approved by the Court. During this hearing, Justice McDonald was asked to determine whether the proposed Final Settlement Agreement is fair, reasonable, and in the best interests of the class as a whole. She was also asked to approve Class Counsel's fees, and some other administrative matters.

 The hearing commenced with oral submissions from Class Counsel, about why the Court should approve the proposed settlement. Class Counsel also provided the Court with all Participation Forms received after the deadline (June 27th) up until Sunday, July 14th for Justice MacDonald's consideration. Of the Participation Forms received, approximately 90% expressed support for the settlement, with the remaining 10% objecting to the settlement terms (either in whole or in part).

 The Court then heard from several class members (both in-person and virtually) about why they objected to or supported the terms of the proposed settlement.

 Ultimately, Justice McDonald reserved her decision – meaning that she did not make a decision during the hearing itself, and will instead release a written decision in due course. We don't know when she will release her decision, but she did advise that she would prioritize this decision. 

Once we receive a decision, we will advise Class Members of whether the settlement has been approved, and provide information regarding next steps. In the meantime, there is nothing needed from you, and we will provide you (and other class members) an update once it is available.