LONDON, ON, March 25 /CNW/ - The law firm of Siskinds LLP today announced
that it has filed a $110 million class action against SunOpta Inc., a company
listed on the TSX and the NASDAQ. Also named as defendants are certain of
SunOpta's senior officers.
The class action arises out of SunOpta's January 24, 2008 press release
disclosing, among other things, that SunOpta would be required to take certain
write-downs in connection with its berry operations.
The class action is brought on behalf of all persons who acquired shares
of SunOpta in the period May 8, 2007 to January 24, 2008.
Dimitri Lascaris, a partner in the class actions department of
Siskinds LLP, said, "Investors are entitled to demand that the financial
statements of public companies fairly and accurately reflect the financial
condition and performance of the companies in which they invest their savings.
That expectation is critical to the proper functioning of our capital markets,
and when that expectation is frustrated, meaningful action must be taken to
protect the rights of investors."
The SunOpta class action is believed to be the sixth class action filed
under Ontario's new investor protection legislation - Part XXIII.1 of the
Ontario Securities Act. Siskinds LLP is sole counsel or co-counsel to the
plaintiffs in each of those class actions.
For further information:
For further information: Persons seeking further information regarding
the SunOpta class action are encouraged to contact Nicole Young, of Siskinds
LLP at (800) 461-6166 (Ext. 2380)