Horizons HOU ETF Class Action - Sotos Class Actions

Horizons HOU ETF

April 11, 2023: This action was discontinued by the Ontario Superior Court of Justice. Details are set out in the Notice of Discontinuance. Please read the Notice as it may affect your legal rights.

This case alleges that the defendants breached Canadian corporate laws when they unilaterally changed the investment objectives of HOU (BetaPro Crude Oil 2x Daily Bull ETF) without shareholder approval or the consent of the securities regulator.

The corporate defendants are a mutual fund corporation and corporations that carry on business as the manager and investment manager of exchange traded fund products, respectively. The individual defendants are the directors or officers of the corporate defendants.

This case seeks to represent all persons and entities, wherever they may reside or be domiciled, who owned units of HOU on April 22, 2020.

The court will decide at a later date if the case will proceed as a class action.

  • April 11, 2023: Justice Morgan discontinued the action on consent. His decision is available at this link. The details are set out in the Notice of Discontinuance.
  • August 28, 2020: Plaintiff issues Statement of Claim in the Ontario Superior Court of Justice

David Sterns

Read more

Jean-Marc Leclerc

Read more

Adil Abdulla

Read more

Karen Whibley

Read more