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More Home Capital shareholders opt out of global settlement

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More Home Capital shareholders opt out of global settlement

More shareholders have opted out of a global settlement with Home Capital Group Inc., in connection with their class-action securities lawsuit.

Roland Keiper and Brian Chapman issued a statement of claim, based on allegations of common law and statutory misrepresentation and oppressive conduct. They are seeking C$2 million in damages.

Home Capital believes Keiper and Chapman hold 390,900 of the 1,717,600 common shares that opted out of the settlement. Another 1,234,700 shares are held by West Face Long Term Opportunities Global Master LP, which is seeking C$70 million.

The Toronto-based lender intends to defend itself against the claims.