Allen-Vanguard Corporation
On October 9, 2009, Siskinds LLP filed a $80 million Class Action against Allen-Vanguard Corporation ("Allen-Vanguard”). Also named as defendants are certain of its current and former officers and directors. The class action seeks damages relating to certain representations made by the defendants in regard to Allen-Vanguard’s acquisition of Med-Eng Systems Inc. The class action is brought on behalf of all persons and entities who acquired Allen-Vanguard securities from August 3, 2007 to September 12, 2009.
Bear Lake Gold Ltd.
In August 2009, Siskinds LLP filed a $25 million Class Action against Bear Lake Gold Ltd. ("Bear Lake"). Also named as defendants are certain of Bear Lake's current and former officers and directors. The class action seeks damages as a result of Bear Lake's July 21, 2009 and July 24, 2009 announcement that it had become aware of serious material inconsistencies in its exploration data relating to its flagship Larder Lake Property.
Manulife Financial Corporation
In July 2009, Siskinds filed a $500 million class action against Manulife Financial Corporation ("Manulife") and certain of its current and former officers and directors. In the class action, it is alleged, among other things, that the defendants negligently made misrepresentations relating to Manulife’s risk management practices and policies.
Aftermarket Automotive Lighting
In June 2009, Siskinds filed a proposed class action against several manufacturers of hermetically sealed cooling compressors (“Cooling Compressors”) alleging that the Defendants unlawfully conspired to fix, increase, and/or maintain prices at which Cooling Compresors were sold in North America.
Cooling Compressors
In March 2009, Siskinds filed a proposed class action against several manufacturers of Aftermarket Automotive Lighting Products alleging that the Defendants unlawfully conspired to fix, increase, and/or maintain prices at which Aftermarket Automotive Lighting Products were sold in North America.
Trasylol
On December 2, 2008, Siskinds filed a class proceeding against Bayer with respect to their drug Trasylol ("aprotinin"), which was injected into individuals undergoing heart surgery to help reduce bleeding and the need for blood transfusions. Bayer suspended marketing of Trasylol following results from a clinical trial that suggested an increased risk of death. Use of Trasylol during surgery has been associated with an increased risk of developing cardiovascular or cerebrovascular adverse events, renal dysfunction, or death. The Statement of Claim alleges that Bayer failed to adequately warn patients and physicians of the increased risk of serious adverse injury associated with use of Trasylol as compared to safer alternatives.
American International Group Inc.
In November 2008, Siskinds LLP filed a $550 million class action under Ontario's new investor protection legislation (Part XXIII.1 of the Ontario Securities Act) against American International Group, Inc. ("AIG"), AIG Financial Products Corp. ("AIGFP"), and various current and former directors and officers of AIG and AIGFP.
Arctic Glacier Income Fund
In September 2008, Siskinds LLP filed a $165 million class action under Ontario's new investor protection legislation (Part XXIII.1 of the Ontario Securities Act) against Arctic Glacier Income Fund ("Arctic Glacier"), Arctic Glacier Inc, trustees, directors and senior officers of Arctic Glacier and Arctic Glacier Inc. The class action arises out of Arctic Glacier's recent announcement of an investigation by the United States Department of Justice into anti-competitive conduct in Arctic Glacier's industry, the packaged ice industry. Subsequent to that announcement, Arctic Glacier announced that it was suspending its distributions to its unit-holders, and the price of its units collapsed.
Cathode Ray Tube (“CRT”)
In July, 2008, Siskinds filed a proposed class action against several manufacturers of CRT Products alleging that the Defendants unlawfully conspired to fix, increase, and/or maintain prices at which CRT Products were sold in North America.
Gildan Activewear Inc.
In June 2008, Siskinds LLP filed a proposed class action against Gildan Activewear Inc. (ticker: "GIL") and certain of Gildan's senior officers. The action arises out of Gildan's recent disclosures regarding its Dominican Republic manufacturing facilities and Gildan's results for fiscal 2008. The action asserts common law claims and seeks leave to pursue claims under Part XXIII.1 of the Ontario Securities Act.
Orsu Metals Corporation
In June of 2008, Siskinds LLP filed a proposed class action seeking leave to pursue claims under Part XXIII.1 of the Ontario Securities Act against Orsu Metals Corporation ("OSU") and certain of OSU's senior officers. The action arises out of OSU's March 31, 2008 press release disclosing, among other things, that OSU would be delaying the release of its 2007 annual consolidated financial statements, in part as a result of OSU's review of its accounting for derivatives to ensure compliance with GAAP. OSU acknowledged that this review would result in the restatement of OSU's Financial Statements Q1, Financial Statements Q2, and Financial Statements Q3. On April 11, 2008, OSU restated its financial statements for the first three quarters of 2007 to properly account for a forward sales contract of gold to be produced from its Varvarinskoye project. The restatements resulted in significant changes to OSU's net earnings and earnings per share for those periods.
Filters
In May 2008, Siskinds filed a proposed class action against several large automobile filter manufacturers alleging that the Defendants unlawfully conspired to fix, increase, and/or maintain prices at which oil and air filters in the aftermarket (i.e., the market for replacement filters) were sold in North America.
Gammon Gold
In March 2008, Siskinds LLP filed a class action against Gammon Gold Inc. ("Gammon") and certain of its current and former officers and directors. The class action arises out of Gammon's April 2007 offering to the public of 10 million Gammon shares at a price of $20 per share. The offering was conducted pursuant to a prospectus issued by the defendants on April 19, 2007. Also named as defendants are the three underwriters who sold those shares to the public: BMO Nesbitt Burns, Inc., Scotia Capital Inc. and TD Securities Inc.
Please see Action Categories webpage to see a full listing of all ongoing class actions
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