00:11:59 EDT Wed 27 Sep 2023
Enter Symbol
or Name

Canaccord Genuity Group Inc
Symbol CF
Shares Issued 99,594,391
Close 2023-06-09 C$ 8.66
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Canaccord drops lawsuit against former Kelowna employee

2023-06-09 19:49 ET - Street Wire

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by Mike Caswell

Thirteen years after filing the case, Canaccord Genuity Corp. has dropped the lawsuit that it filed in the Supreme Court of British Columbia against a former Kelowna employee, Melaney Phillips. The firm had claimed that Ms. Phillips departed under some controversy, leaving it to pay out claims arising from her work. It had sought a court order declaring that she owed the money.

The end of the lawsuit is contained in a consent order filed on Wednesday, June 7, at the Vancouver courthouse. The order simply states that all parties have agreed to end the case, without a hearing. Each side will bear its own legal costs.

It is not clear from Wednesday's order why it took 13 years to resolve the matter, as it seemed to be a fairly straightforward lawsuit. Canaccord set out the details of the case in a notice of claim that it filed on Oct. 6, 2010, at the Vancouver courthouse. The matter arose from Ms. Phillips's employment with the firm, which ran from December, 2005, until she left in August, 2008.

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