Ithaca Energy Inc.

Berger Montague serves as class counsel in this securities class action lawsuit against Ithaca Energy Inc. (now known as Ithaca Energy Limited) and its former Chief Executive Officer, Les Thomas, in the Court of King’s Bench of Alberta, which resulted in a CAD $9 million settlement approved by the Court in August 2025, without any admission of liability.

FAQs

• How do I know if I’m eligible to participate in this settlement?

You may be eligible if you purchased Ithaca Energy Inc. common shares between October 9, 2014 and February 25, 2015, and continued to hold some or all of those shares. Eligible investors must submit a completed Claim Form, together with supporting documentation, through Nuvo Claims Inc.’s Online Claims System on or before August 20, 2026 to receive a distribution from the settlement fund.

• What happens after I submit my Claim Form?

Your Claim Form will be reviewed by Nuvo Claims Inc., the court-appointed settlement administrator. If your claim is approved, you will receive a distribution from the settlement fund in accordance with the Court-approved Plan of Allocation. Technical questions about the Claim Form should be directed to Nuvo Claims, and compensation eligibility questions can be directed to our team.

• Do I have to pay to submit a claim or speak with Class Counsel?

No. There is no cost to submit a Claim Form or to speak with Class Counsel about your eligibility.

Read more about this case:

• July 6, 2026 – The claims deadline was extended to August 20, 2026 for investors to submit their Claim Form with supporting documentation.
• September 2025 – Investors who purchased Ithaca common shares between October 9, 2014 and February 25, 2015 are eligible to submit a Claim Form through Nuvo Claims Inc.’s Online Claims System.
• August 7, 2025 – The Honourable Justice Neufeld has approved a CAD $9 million settlement of the action, without any admission of liability by Ithaca Energy Inc.
• April 21, 2025 – The parties reached a settlement of the investor claims, pending approval from the Court.
• June 24, 2019 – The Court of King’s Bench of Alberta released its first decision on a shareholder’s burden to seek leave to proceed with a secondary market claim (See: Stevens v. Ithaca Energy Inc., 2019 ABQB 474).

Berger Montague is one of the nation’s preeminent law firms focusing on complex civil litigation, class actions, whistleblower cases, and mass torts in federal and state courts throughout the United States. With nearly $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.