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LITIGATION: Sino-Forest underwriters agree to settle class action

Jan 27, 2015 - The Globe and Mail (Canada)

A group of big-name Bay Street financial institutions that underwrote stock and debt issues for Sino-Forest Corp. have agreed to pay $32.5-million to burned investors in the onetime Chinese forestry giant, which collapsed amid fraud allegations in 2011.

Former shareholders in SinoForest, once a $6-billion company that traded on the Toronto Stock Exchange, launched a $9-billion class-action lawsuit not just against the firm, some of its executives and its auditors, but also its underwriters...