Sprott Inc. named in legal proceeding relating to Flatiron Market Neutral Fund

About this update from Sprott Inc.

[{"type":"text","content":"\n\n\nTORONTO, June 5, 2013 /CNW/ - Sprott Inc. (TSX: SII) (\"Sprott\" or the\n \"Company\") today announced that it and certain subsidiaries were named\n as defendants in a legal proceeding  in the Ontario Superior Court of\n Justice commenced against multiple defendants by Performance\n Diversified Fund, as plaintiff. The proceeding is in respect of a claim\n relating to an investment by the plaintiff in the Flatiron Market\n Neutral Limited Partnership (the \"Flatiron Fund\"). The plaintiff was a\n limited partner in the Flatiron Fund from 2006 until February 2013.\n Sprott indirectly acquired the shares of the manager of the Flatiron\n Fund in August 2012. The orderly liquidation of the Flatiron Fund\n announced in November 2012 was completed in February 2013.\n\n\nSprott denies any liability in connection with the claim and will\n vigorously defend the claim.\n\n\nAbout Sprott Inc. \n\n\nSprott is a leading independent asset manager dedicated to achieving\n superior returns for its clients over the long term. Sprott currently\n operates through four business units: Sprott Asset Management LP,\n Sprott Private Wealth LP, Sprott Consulting LP, and Sprott U.S.\n Holdings Inc. Sprott Asset Management is the investment manager of the\n Sprott family of mutual funds and hedge funds and discretionary managed\n accounts; Sprott Private Wealth provides wealth management services to\n high net worth individuals; and Sprott Consulting provides management,\n administrative and consulting services to other companies. Sprott U.S.\n Holdings Inc. includes Sprott Global Resource Investments Ltd, Sprott\n Asset Management USA Inc., and Resource Capital Investments\n Corporation. Sprott is headquartered in Toronto, Canada, and is listed\n on the Toronto Stock Exchange under the symbol \"SII\". For more\n information on Sprott, please visit www.sprottinc.com.\n\n\nCaution Regarding Forward-Looking Statements \n\n\nThis document includes certain statements that constitute\n \"forward-looking statements\" within the meaning of applicable\n securities laws. These statements include statements regarding beliefs\n or current expectations of Sprott.\n\n\nBy their very nature, forward-looking statements involve numerous\n assumptions, inherent risks and uncertainties, both general and\n specific, and the risk that predictions and other forward-...

More updates from Sprott Inc.