Concordia International Corp.
Canadian Securities Litigation Class Action Settlement

This claims administration website was updated on January 25, 2021

PLEASE READ THE ENTIRE UPDATE IN REGARDS TO THE
DISTRIBUTION OF PAYMENTS TO AUTHORIZED CLAIMANTS AND
CLAIM FORMS FILED PAST THE CLAIMS BAR DEADLINE

Click here to log in to the Portal

We are experiencing a high number of calls and emails requesting the exact date the cheque will be delivered and if we mailed it to the correct address. Before you call or email our office, please read the following:

Please note that the Claims Administrator does not know the exact date when Canada Post will deliver the cheque to your address. Based on news reports, there is an outbreak of Covid at Canada Post’s Mississauga facility. We don’t know if this is having an influence on the delivery of your cheque.

Based on our experience of mailing tens of thousands of cheques and Notices a year, it is common that mail is sometimes returned to our post office weeks, if not months, after the date of mailing. If you do not receive your cheque by February 12, 2021, please advise our office by email, , please and thank you.

If your cheque is returned to our post office box, we will advise you by email to confirm your mailing address. If we need to reissue a cheque, we will attend the bank to place a stop payment on the original cheque and reissue a new cheque. This will not occur until after the stay at home order and state of emergency in Ontario is lifted.

Please note that we mailed the cheque to the address that you provided when you completed your Claim Form. Please also note that we verified, a minimum of two times, that the name, address and pro rata payment matched what is recorded on your Claim Form (in the online claims administration portal) and the cheque that was mailed.

We also ran the addresses through Canada Post’s National Change of Address (NCOA) database to determine if you had changed your address with Canada Post to have your mail forwarded to another address. We also confirmed if the address that you inserted into your Claim Form was complete. For example, that the postal code matched the address provided on the Claim Form. We updated that information prior to mailing.

Maximum Entitlement and Pro Rata Distribution

Please note that the Pro Rata Payment is the only cheque you will be receiving from the Net Compensation Fund. We have verified, a minimum of two times, that the amount on the cheque is correct.

As per the explanation posted in the January 13, 2021 update (see below), the Claims Administrator approved a total of $139,366,232.84 in Maximum Entitlement Claims out of the $220,796,760.40 total amount of Maximum Entitlement filed. The Net Compensation Fund allocated to Authorized Claimants is $9,543,298.06. The Pro Rata payment is based on the calculation of the amount allocated to Authorized Claimants ($9,543,298.06) and the total in Maximum Entitlements approved ($139,366,232.84).

Please refer to the Claim Determine Notice that the Claims Administrator provided when your Claim was approved. There was an important explanation with regards to the calculation of the distribution for Authorized Claimants. In that Claim Determination Notice, you were advise that your Pro Rata Distribution payment would be calculated after all Claims Forms for Authorized Claimants were approved. Please see some of that explanation below.

Calculation of the Distribution shall be calculated as follows and after all Authorized Claimants have been approved:

The Distribution for each Authorized Claimant will be calculated by the Administrator by dividing the Compensation Fund by the total number of Qualified Shares for all Authorized Claimants to arrive at a per Qualified Share distribution amount defined herein as the “Pro Rata Distribution”;

The Administrator will then multiply the Pro Rata Distribution by the number of Qualified Shares held by an Authorized Claimant to arrive at the Distribution to be paid to each Authorized Claimant;

Once the Administrator determines a Claimant’s Authorized Claimant status, the respective number of his, her or its Qualified Shares and his, her or its Pro Rata Distribution from the Compensation Fund, the Administrator shall advise the Claimant of the Administrator’s decision by posting it on the Claimant’s online claim file.

Qualified Shares” means Shares purchased or acquired during the Class Period and held until after August 12, 2016. For the purposes of determining whether or not Shares purchased or acquired during the Class Period were held until after August 12, 2016, LIFO will be used;
Distribution” means payment to Authorized Claimants in accordance with this Plan of Allocation, the Agreement and any order of the Courts;
Distribution List” means a list containing the name and address of each Authorized Claimant, the calculation of his/her/its net loss and the calculation of the Authorized Claimant’s pro rata share of the Compensation Fund;
Pro Rata Distribution” means the Distribution per Qualified Share.
Maximum Entitlement” means an Authorized Claimant’s actual loss on Qualified Shares, as calculated pursuant to the formula set forth in paragraph 8 of the Plan of Allocation:

Dear Class Member,

We appreciate that this claims administration has taken an extraordinary amount of time. The Ontario and Quebec Courts, Trilogy Class Action Services, Class Counsel and the Defendants thank you for your abundance of patience as we navigated the many challenges over the last two years.

We have updated the online claims administration portal with the increased pro rata payments.

The cheques are being mailed and must be cashed within six (6) months from the date of the cheque or July 13, 2021. No cheques will be reissued.

Authorized (Institutional) Claimants in the United States, United Kingdom, Switzerland, Japan, Luxembourg, Australia and Germany will have their payment sent by wire transfer in Canadian Funds as soon as permitted under Covid-19 lockdown restrictions. Please be patient as we work through this process.

Due to Covid-19 and to avoid the risk of spreading the virus, we changed the process of our normal cheque handling process to reduce the number of people who handled the cheque and envelope. No signature is required to receive the cheque.

DISTRIBUTION OF COMPENSATION FUNDS

Pursuant to the Court approved Plan of Allocation:

“The Distribution for each Authorized Claimant will be calculated by the Administrator by dividing the Compensation Fund by the total number of Qualified Shares for all Authorized Claimants to arrive at a per Qualified Share distribution amount defined herein as the “Pro Rata Distribution”;

The Administrator will then multiply the Pro Rata Distribution by the number of Qualified Shares held by an Authorized Claimant to arrive at the Distribution to be paid to each Authorized Claimant;”

Total Number of Claim Forms Filed: 5,719
Total Maximum Entitlement Amount Filed: $220,796,760.40
Total Number of Claim Forms Approved: 3,360
Total Maximum Entitlement Amount Approved: $139,366,232.84

Compensation Fund Total: $10,043,298.06
Compensation Fund allocated to Late Claim Forms: $500,000 (filed past the Claims Bar Deadline - "Late with Permission" and "Late Without Permission")
Compensation Fund allocated to Authorized Claimants: $9,543,298.06

Please note that the original draft of our recommendations to the Courts was prepared in February 2020. We submitted our revised recommendations to the Court in Ontario in July 2020 and then to the Court in Quebec in November 2020. Based on these submissions, the Ontario and Quebec Courts approved a pro rata distribution of 6.59%.

Subsequently, due to some Institutional Claimants requesting their Claims be withdrawn and further interest earned on the trust funds that were invested, the Claims Administrator has added $365,993.63 to the Compensation Fund for Authorized Claimants. Therefore, we are pleased to report that the pro rata payment increased from 6.59% to 6.85%

Pursuant to the Plan of Allocation, paragraph 19:
“Once the Administrator determines a Claimant’s Authorized Claimant status, the respective number of his, her or its Qualified Shares and his, her or its Pro Rata Distribution from the Compensation Fund, the Administrator shall advise the Claimant of the Administrator’s decision by posting it on the Claimant’s online claim file.”

For “Authorized Claimants”, please login into the online claims administration portal at https://www.concordiasettlement.com/portal to view your “Pro Rata Distribution” per “Qualified Share” based on your approved “Maximum Entitlement”. If you have forgotten your password, please see the instructions below.

“Authorized Claimant” means a Class Member who: (i) submitted a properly completed Claim Form and all required supporting documentation to the Administrator prior to the Claims Bar Deadline; and (ii) is eligible to receive a Distribution from the Compensation Fund;

“Compensation Fund” means the Settlement Amount less Class Counsel Fees, Administration Expenses and Honoraria;

“Court(s)” means the Ontario Superior Court of Justice and/or the Superior Court of Quebec, as the context may indicate;

“Distribution” means payment to Authorized Claimants in accordance with the Plan of Allocation, the Agreement and any order of the Courts;

“Distribution List” means a list containing the name and address of each Authorized Claimant, the calculation of his/her/its net loss and the calculation of the Authorized Claimant’s pro rata share of the Compensation Fund;

“Maximum Entitlement” means an Authorized Claimant’s actual loss on Qualified Shares, as calculated pursuant to the formula set forth in paragraph of the Plan of Allocation;

Pro Rata Distribution” means the Distribution per Qualified Share;

LATE CLAIM FORMS

Both the Ontario and Quebec Courts have given permission to the Administrator to accept and process Claim Forms designated filed “Late With Permission” and filed “Late Without Permission” and who filed past the Claims Bar Deadline.

Pursuant to the Plan of Allocation: paragraph 40 - RESTRICTION ON CLAIMS
“Any Class Member who does not submit a Claim Form and required supporting documentation with the Administrator on or before the Claims Bar Deadline, will not be permitted to participate in the Distribution without permission of the applicable Court. The Administrator will not accept or process any Claim Form received after the Claims Bar Deadline unless directed to do so by the applicable Court.”

If your Claim is designated as “Late With Permission” or “Late Without Permission” in the online claims administration portal, we now have direction from the Courts to accept and process your Claim Form. We will be communicating directly with Claimants who filed Late once we have mailed payments to Authorized Claimants.

The Court has approved that $500,000 from the Compensation Fund be allocated for compensation to Class Members who are designated Late With Permission and Late Without Permission.

This process will take approximately sixty (60) days.

In the meantime, we wish you the best of health.

Paul Battaglia, President,
Trilogy Class Action Services,
117 Queen Street, P.O. BOX 1000,
Niagara-on-the-Lake, ON, L0S 1J0

PASSWORD RESET FOR THE ONLINE CLAIMS ADMINISTRATION PORTAL

If you have forgotten your password, please follow the steps below:

• Click on Forgot your password on the Login Page.

• Enter the email address you used to register for the portal, or the one you put on your paper Claim Form that was submitted via fax or postal mail. Press “Recover Account”. A password reset email will be sent to your inbox with instructions on how to change your password. Please check your junk/spam folder if you do not see the email in your inbox within 10 minutes.

Please note: If you did not have an email address at the time of submitting your Claim Form, or you have since changed your email address and no longer have access to the previous email address, please send Trilogy an email with the updated email address, and we will assist you. PLEASE DO NOT CALL OUR OFFICE FOR A PASSWORD RESET. You may be required to answer verification questions to confirm we have the correct individual.