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La Capitale Class Action (Penncorp)

NOVEMBER 4, 2022 UPDATE:

A proposed Canada-wide settlement has been reached in the class proceeding Matthews and Dunlop v La Capitale Civil Service Mutual, La Capitale Financial Group Inc., La Capitale Civil Service Insurer Inc., La Capitale Financial Security Insurance Company, and 3602214 Canada Inc., commenced in the Supreme Court of British Columbia, Court File: VLC-S-S-1810216.

 

In order for the Settlement to become effective, it must be approved by the Supreme Court of British Columbia. The date for the Settlement approval hearing has been scheduled as follows:

 

Monday, December 12, 2022 at 10:00am
Supreme Court of British Columbia
800 Smithe Street
Vancouver, British Columbia, V6Z 2E1

 

For more information, including details on how you can participate in the settlement approval hearing if you are a member of the Class, please see the following documents:

 

 


 

MISE À JOUR DU 4 NOVEMBRE 2022:

Un règlement pancanadien a été conclu dans le cadre du recours collectif Matthews and Dunlop c. La Capitale mutuelle de l’administration publique, La Capitale groupe financier inc., La Capitale assureur de l’administration publique inc., La Capitale sécurité financière, compagnie d’assurance, et 3602214 Canada inc., intenté devant la Cour suprême de la Colombie-Britannique, dossier de la Cour : VLC-S-S-1810216.

 

Pour que le règlement entre en vigueur, il doit être homologué par la Cour suprême de la Colombie-Britannique. La date de l’audition d’homologation du règlement a été fixée comme suit :

 

Lundi 12 décembre 2022 à 10 h
Cour suprême de la Colombie-Britannique
800 Smithe Street
Vancouver, Colombie-Britannique, V6Z 2E1

 

 

Pour plus d’informations, y compris les détails sur la façon dont vous pouvez participer à l’audience d’approbation du règlement si vous êtes un membre du groupe, veuillez consulter les documents suivants:

 

 

This webpage provides information regarding a Canada-wide class action that has been certified by the British Columbia Supreme Court (known as Matthews and Dunlop v La Capitale Civil Service Mutual, La Capitale Financial Group Inc., La Capitale Civil Service Insurer Inc., La Capitale Financial Security Insurance Company, and 3602214 Canada Inc., VLC-S-S-1810216) on behalf of a “Class” that includes:

 

all individuals or entities, wherever resident, who were, between November 30, 2006 and May 28, 2020 party to any agreement with the Pennsylvania Life Insurance Company, the Penncorp Life Insurance Company, or their subsidiaries or acquirers which grants or entitles them to ongoing compensation from the Pennsylvania Life Insurance Company, the Penncorp Life Insurance Company, their subsidiaries, their acquirers or from the business operations and activities of the Defendants.

 

For clarity, this class action does not concern customers of the Defendants, i.e. those who merely hold (or once held) insurance policies with any of the Defendants. It relates to certain issues faced by Canadian insurance sales agents, managers, and others who were or may be entitled to receive compensation from one or more of the Defendants relating to the sale of insurance policies in Canada.

 

This class action alleges that the Defendants engaged in conduct (the “Defendants’ Actions” as described in the Second Amended Notice of Civil Claim) that deprived the Class of compensation owed pursuant to various agreements between the Class and the Defendants.

 

The “Defendants’ Actions” as described in the Second Amended Notice of Civil Claim include:

 

  1. (c) Attributing La Capitale Product Expenses to Class Penncorp Business Payments calculations without attributing La Capitale Revenues to Class Penncorp Business Payments calculations
  2. (f) Classifying Penncorp Product Revenues as either La Capitale Revenues or La Capitale Profits and not attributing La Capitale Revenues or La Capitale Profits to Class Penncorp Business Payments calculations
  3. (g) Not attributing the correct amount of Penncorp Product Revenues to Class Penncorp Business Payments calculations
  4. (i) Churning Penncorp Products into La Capitale Products
  5. (j) Providing incentives to Defendants’ employees, including but not limited to engaging in rebating or tied selling to change Penncorp Products into LaCapitale Products
  6. (l) Failing to keep an accounting of funds from business conducted through the operations of Defendants’ Canadian Penncorp offices
  7. (m) Failing to keep an account of funds to be held in trust by the Defendants, for the Class, to meet the ongoing obligations of the Class Retirement Compensation Agreements

 

 

Key Documents

 


If you are a member of the class (as described above), and you would like to be kept informed on the progress of this action, please complete the contact form below.  Please note, joining our internal contact list via the form below creates no financial obligation for you and your information will be kept confidential. (If you have previously joined our contact list and your address or other contact information has changed, you may update your contact information on our list by completing the form below.)


 

    Please note: The information provided on this website is Not Legal Advice. The information may or may not be accurate. The information is for discussion purposes only. Reliance upon any information provided would not be grounds to advance a claim against Merchant Law for providing any advice. In order to get a formal legal opinion upon which you may rely about any specific fact scenario, you would have to first retain the services of a lawyer and request a formal legal opinion.