Norbourg: The Court rejects a motion by Vincent Lacroix

Mr. Justice André Provost of the Superior Court of Québec today rejected a motion by Vincent Lacroix asking the Court for leave to call in warranty the Caisse de dépôt et placement du Québec in respect of the class action suit brought against him. In the motion, Mr. Lacroix alleges that about $20 million was missing from the funds managed by Evolution Funds Inc.

The Court has rejected after Mr. Lacroix’s admission that the motion could not be presented by himself but by the companies of Norbourg Group.

It should be noted that the Caisse has issued three other press releases in this matter, on October 21, 2005, March 6, 2006, and February 14, 2007. It would like to add that it was not until more than three years after Norbourg Asset Management Inc. concluded the agreement to acquire the Evolution Funds and only after having been subject to seizure by the Autorité des marchés financiers (“AMF”) and in the context of the criminal and civil suits brought against him that Mr. Lacroix alleged that assets were missing