NOTICE OF CERTIFICATION AND AUTHORIZATION AND THE GRANTING OF LEAVE TO
PROCEED WITH STATUTORY SECONDARY MARKET MISREPRESENTATION CLAIMS
Read this notice carefully as it may affect your legal rights
TORONTO, Feb. 7, 2013 /CNW/ - This notice is directed to all persons,
wherever they may reside or be domiciled, who acquired securities of
SNC-Lavalin Group Inc. ("SNC") during the period from and including
November 6, 2009 to and including February 27, 2012 (the "Class
Period"), other than certain excluded persons associated with the
defendants described below (the "Class Members").
THE CERTIFICATION ORDERS
On September 19, 2012, Justice Perell of the Ontario Superior Court of
Justice certified the action The Trustees of the Drywall Acoustic Lathing and Insulation Local 675
Pension Fund, et al. v SNC-Lavalin Group Inc., et al., Court File No. CV-12-453236-00CP (the "Ontario Action") as a class
proceeding, and appointed the Trustees of the Drywall Acoustic Lathing
and Insulation Local 675 Pension Fund (the "Trustees") and 0793094 B.C.
Ltd. as representative plaintiffs.
On January 24, 2013, Justice Francoeur of the Québec Superior Court
authorized the action Delaire v SNC-Lavalin Group Inc., et al., Court File No. 200-06-000141-120 (the "Québec Action") as a class
proceeding, and appointed Jean-Paul Delaire as representative
The Ontario Action has been certified on behalf of the following class:
all persons, wherever they may reside or be domiciled, who acquired
securities of SNC during the Class Period, except for: (1) SNC's past
and present subsidiaries, affiliates, officers, directors, legal
representatives, heirs, predecessors, successors and assigns, and any
spouse or child of the defendants Ian A. Bourne, David Goldman,
Patricia A. Hammick, Pierre H. Lessard, Edythe A. Marcoux, Lorna R.
Marsden, Claude Mongeau, Gwyn Morgan, Michael D. Parker, Hugh D. Segal,
Lawrence N. Stevenson, Gilles Laramée, Michael Novak, Pierre Duhaime,
Riadh Ben Aïssa and Stéphane Roy (the "Excluded Persons"); and (2)
those persons who are members of the class authorized in the Québec
Action, as described in the next paragraph.
The Québec Action has been authorized on behalf of the following class:
all persons who acquired securities of SNC during the Class Period, who
were resident or domiciled in the Province of Québec at the time they
acquired such securities, and who are not precluded from participating
in a Quebec class action by virtue of Article 999 of the Québec Code of Civil Procedure, except for the Excluded Persons.
Under Article 999 of the Québec Code of Civil Procedure, a Class Member that is a legal person established for a private
interest, partnership or association is part of the class authorized in
the Québec Action only if, at all times during the period from March 1,
2011 to February 29, 2012, not more than 50 persons bound to it by
contract of employment were under its direction or control, and if it
is dealing at arms length with the representative of the group.
Persons excluded from the class in the Québec Action by virtue of
Article 999 are included in the class in the Ontario Action.
The certification and authorization orders mean that the Ontario Action
and the Québec Action may proceed to trial as class actions involving
claims under securities legislation described below for damages for
misrepresentations in SNC's disclosure documents.
Certification and authorization are preliminary procedural matters. The
merits of the claims in the actions, or the allegations of fact on
which the claims are based, have not been finally determined by the
courts. The defendants deny that the claims in the actions have merit.
THE LEAVE ORDERS
On September 19, 2012, Justice Perell of the Ontario Superior Court of
Justice also granted leave to the plaintiffs in the Ontario Action to
commence an action under the secondary market liability provisions of
the Ontario Securities Act and the analogous provisions of the securities legislation of each
other Canadian jurisdiction.
On January 24, 2013, Justice Francoeur of the Québec Superior Court also
granted leave to the plaintiff in the Québec Action to commence an
action under the secondary market liability provisions of the Québec Securities Act.
The only claims being pursued in the class actions are misrepresentation
claims under the secondary market liability provisions of the Securities Act of each Canadian province and territory. These claims are subject to
damages caps, which limit the amount of damages that can be recovered
from the defendants. Plaintiffs' class counsel believe that the
potential total damages for the matters alleged in this case may exceed
the damages caps. If you wish to pursue other claims against the
defendants relating to the matters at issue in the class actions, you
should immediately seek independent legal advice because these other
claims will be compromised if you do not opt out. See "Additional
Information" for how to access the claims and the certification orders
setting out the matters at issue in the class actions.
DO NOTHING IF YOU WANT TO PARTICIPATE IN THE CLASS ACTIONS
Class Members who want to participate in the Ontario Action and the
Québec Action are automatically included and need not do anything at
YOU MUST OPT OUT IF YOU DO NOT WANT TO PARTICIPATE IN THE CLASS ACTIONS
Class Members who do not want to participate in the class actions must
opt out. If you want to opt out of the class actions, you must send a signed
letter stating that you elect to opt out of the class in the SNC class
actions and provide the additional information described below.
In order for your opt out request to be valid, it must include all of
the following information: (i) the date(s) on which you purchased and
sold SNC securities; (ii) the number of securities purchased and sold;
(iii) the price at which you purchased and sold SNC securities; and
(iv) your name, address, telephone number and signature. If you are
submitting an opt out request on behalf of a corporation or other
entity, you must state your position and provide your authority to bind
the corporation or entity.
Your opt out request may be sent by fax or mail to:
NPT RicePoint Class Action Services
Re: SNC-Lavalin Group Inc. Securities Litigation
P.O. Box 3355 London, ON N6A 4K3 Canada
Fax: (519) 432-6544
In order for your opt out request to be valid, it must be postmarked or
received no later than May 8, 2013 and it must contain all the
Each Class Member who does not opt out of the class actions will be
bound by the terms of any judgment or settlement, whether favourable or
not, and will not be allowed to prosecute an independent action against
any of the defendants for any of the factual matters raised in the
class actions. If the class actions are successful, you may be
entitled to share in the amount of any award or settlement recovered.
In order to determine if you are entitled to share in the award or
settlement and the amount, if any, of your share, it may be necessary
to conduct an individual determination. There may be costs payable by
you if it is determined that you are not entitled to share in the award
or settlement. You will have the opportunity to decide if you wish to
proceed with your individual determination before it begins.
No person may opt out a minor or a mentally incapable member of the
class without permission of the courts after notice to The Children's
Lawyer and/or the Public Guardian and Trustee, as appropriate.
A Class Member who opts out will not be entitled to participate in the
class actions and will not be entitled to share in the amount of any
award, if the class actions are successful, or in any settlement
achieved, if any.
CLASS COUNSEL AND LEGAL FEES
The plaintiffs and the class in the Ontario Action are represented by
Siskinds LLP and Rochon Genova LLP. The plaintiffs and the class in
the Québec Action are represented by Siskinds, Desmeules, Avocats.
In the Ontario Action, Siskinds LLP and Rochon Genova LLP are acting on
a contingency basis, such that legal fees, disbursements and applicable
taxes will be payable only in the event of success in the Ontario
Action. Siskinds LLP and Rochon Genova LLP are also paying all
disbursements incurred in the Ontario Action.
In the event of success in the class actions, class counsel will make a
motion to the courts to have their fees and disbursements approved.
As a Class Member, you will not be required to pay any costs in the
event that the class actions are unsuccessful.
This notice was approved by the Ontario Superior Court of Justice and
the Québec Superior Court. The court offices cannot answer any
questions about the matters in this notice. The claims, orders of the
courts and other information are available on class counsel's websites
at www.classaction.ca and www.rochongenova.com.
NOTICE TO BROKERAGE FIRMS
Please deliver this notice promptly by email to your clients who
purchased SNC securities during the Class Period and for whom you have
valid email addresses. If you have clients who purchased SNC
securities during the Class Period for whom you do not have valid email
addresses, please contact NPT RicePoint Class Action Services to obtain
hard copies of this notice for the purpose of mailing the notice to
those clients or provide to NPT RicePoint the mailing address for those
clients so they can mail the notices directly to those clients.
Brokerage firms may cumulatively request up to $15,000 in total for the
expenses incurred relating to the distribution of this notice to the
Class Members. If the amounts submitted in aggregate exceed $15,000,
each brokerage firm's claim shall be reduced on a pro rata basis.
The publication of this notice was authorized by the Ontario Superior
Court of Justice and the Québec Superior Court
SOURCE: SISKINDS LLP/ROCHON GENOVA LLP
For further information:
Questions relating to the Ontario Action should be directed by email or telephone to Ontario class counsel:
A. Dimitri Lascaris
680 Waterloo Street
London, ON N6A 3V4
Tel: 1.800.461.6166 ext. 2380 (toll free)
Rochon Genova LLP
121 Richmond Street West, Suite 900
Toronto, ON M5H 2K1
Tel: 1.866.881.2292 (toll free)
Questions relating to the Québec Action should be directed by email or telephone to Québec class counsel:
Siskinds, Desmeules, Avocats
480 St-Laurent Blvd., Suite 501
Montréal, QC H2Y 3Y7