Proposed Settlement Reached in Canadian IKO/CRC/CanroofOrganic Shingles Class Action
TORONTO, Feb.10, 2017 /CNW/ - A proposed settlement has been reached in thenational class action regarding IKO/CRC/Canroof Organic Shingles (collectively,“IKO Organic Shingles”).
“IKOOrganic Shingles” means all asphalt organic shingles manufactured by or onbehalf of IKO Industries Ltd., Canroof Corporation Inc., or I.G. Machine (the"defendants"). The class action relates only to organic shingles.
The class action does not relate tofiberglass shingles (some of which have been sold under the same brand names asIKO Organic Shingles).
IKO Organic Shingles were sold under thefollowing brand names: Chateau, Renaissance XL, Aristocrat, Total, Armour Seal,Superplus, Armour Lock, Royal Victorian,
Cathedral XL, Ultralock 25, ArmourPlus 20, Armour Tite, Cambridge Ultra Shadow (laminated organic), Crowne30. IKO Organic Shingles have not been manufactured since 2008 and havenot been sold since 2010.
**TheClass Action: **Theclass action alleges, among other things, that IKO Organic Shingles werenegligently designed and manufactured in a manner that, under normal conditionsand usage, would result in premature failure.
** **The defendants deny these allegations andassert that IKO Organic Shingles are free of any defect, and in fact, are goodquality roofing materials.
The class actionaffects current or former owners or lessees of buildings located in Canada that contain orcontained IKO Organic Shingles.
**TheProposed Settlement: **The defendants have agreed to pay CDN$7,500,000to resolve class member claims. The proposed settlement agreement sets out whois eligible for compensation, how the settlement funds will be distributed,
and how class members can apply to receivebenefits. A copy of the proposed settlement can be viewed at www.classaction.ca/iko](http://www.classaction.ca/iko).
The settlementis not an admission of wrongdoing or liability. The defendants agreed to settlethe action to avoid the costs of litigation and achieve finality in itsobligations to class members.
Settlementapproval hearing: Thesettlement agreement is conditional on approval by the OntarioCourt. A hearing to approve the settlement will be heard on May 9, 2017, in Brampton, Ontario.
Class members have the right toobject to or otherwise make submissions about the settlement. Objections mustbe made in accordance with the process outlined in Part 10 of the long-formnotice of the settlement approval hearing.
This notice is available online at www.classaction.ca/iko](http://www.classaction.ca/iko).
Siskinds LLP iscounsel for the class. Siskinds is a law firm based in London, Ontario, with anoffice in Torontoand affiliate offices in Montrealand Quebec City.
SOURCE Siskinds LLP
For further information: For furtherinformation, visit IKO Roofing Shingles - Siskinds Law Firm or contact: Linda Visser, SiskindsLLP, 680 Waterloo Street, London, ON N6A 3V8, Tel: (416) 362-8334,