Garett Hunter

Three law firms brought competing carriage motions to represent a class of shareholders of Canopy Growth Corporation in a securities misrepresentation class action.

The court evaluated the competing claims under s. 13.1(4) of the Class Proceedings Act, 1992.

The court granted carriage to the Dziedziejko action, finding that its longer class period, which included thousands of additional shareholders based on prior financial misrepresentations, better served the goals of access to justice and behaviour modification without sacrificing efficiency.

The competing Leonard and Twidale actions were stayed.

The plaintiffs brought a motion to certify a proposed shareholder class action arising from the successful joint take-over bid for Baffinland Iron Mines Corporation.

The plaintiffs asserted claims for circular misrepresentation, insider trading, oppression, and unjust enrichment.

The court found that the plaintiffs met the requirements for certification under s. 5 of the Class Proceedings Act.

The court excluded compulsory acquisition security holders from the class definition but included secondary market sellers.

The court also held that the oppression claims raised common issues and that a class action was the preferable procedure.