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.
