The group announced yesterday that it has become aware that a motion to authorise the bringing of a class action has been filed with the Superior Court of Québec. The company, its current directors and certain current officers, as well as certain former employees of the Company have been named as defendants.
The motion seeks authorization of the Court to bring a class action in connection with alleged misrepresentations on behalf of all people who acquired securities of the company from 13 March 2009 to 28 February 2012. If so authorised, various declarations and compensatory damages of CA$250m are sought.
The company said that it denies all liability in respect of the claims alleged and intends to vigorously oppose the motion.
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