Two competing plaintiffs, Kowalyshyn and O'Brien, brought a carriage motion to determine who would represent the class in a securities misrepresentation class action against Valeant Pharmaceuticals and others.
The proposed class actions alleged that Valeant misrepresented its financial results and business practices, causing billions in losses to investors.
The court analyzed 16 carriage factors, finding most to be neutral or non-determinative.
However, the court found that the interrelationship of class actions in multiple jurisdictions strongly favoured Kowalyshyn.
O'Brien's action was closely tied to a parallel action in Quebec, and the court viewed her Ontario action as a surrogate attempt to stay Kowalyshyn's action indirectly.
The court granted carriage to Kowalyshyn and temporarily stayed O'Brien's action.
