Vancouver-based Southwestern Resources Corp. has agreed to settle the securities class actions filed against it and others in British Columbia, Ontario and Quebec. The company announced that under the settlement, Southwestern Resources Corp., its former President and CEO John Paterson, his wife Margaret Joan Paterson and their affiliates will pay a total of $15.5 million. The Company estimated that its contribution to the settlement will be approximately $7.0 to $7.5 million.
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