Class action
In February 2001, the Association de protection des épargnants et investisseurs du Québec (now the Mouvement d’éducation et de défense des actionnaires [MÉDAC]) instituted a class action on behalf of a group of shareholders against Nortel Networks Corporation.
In January 2007, a settlement agreement was approved by the Court. It provided that the class members were entitled to benefit, in proportion to their claim, from a fund created by Nortel and assessed in excess of US$1 billion (as of June 2006).
The distribution of amounts to the class members has been completed and this file is closed.