519 672 2121
519 672 2121
Close mobile menu

Siskinds LLP represents the plaintiff in a proposed class action against Imperial Metals Corporation (“Imperial”) and certain of its directors, officers and related parties in the Ontario Superior Court of Justice.

The proposed class action is brought on behalf of all persons and entities, wherever they may reside, who acquired Imperial’s shares or notes between August 15, 2011 and August 4, 2014, and continued to hold some or all of those securities as of August 5, 2014. Certain persons affiliated with the defendants are excluded from this proposed class action.

The action relates to the circumstances surrounding the failure of the tailings storage facility at Imperial’s Mount Polley gold and copper mine near Likely, British Columbia on August 4, 2014.

FAQs

What is a Class Action?

A class action is a lawsuit that is brought by one or more persons on behalf of a larger group of people whose claims share common legal and/or factual issues. Such people are commonly referenced as “class members.” Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

Who is affected by the Imperial class action?

You are affected by this class action and will be a “member” of the class if you acquired Imperial’s common shares or other securities between August 15, 2011 and August 4, 2014, and continued to hold some or all of those securities as of August 5, 2014.

Do I have to pay anything to participate in the class action?

No. Class members do not incur costs in connection with the class action. Class action lawyers are usually paid on a contingency basis. This means that class counsel are only paid if successful. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action on behalf of the class members. In certifying the lawsuit as a class action, the court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions). After the court certifies the lawsuit as a class action, usually notices will be disseminated to the class members. These notices will advise the class members that the lawsuit has been certified, and they will also set out the issues that the court will be asked to determine on behalf of the class members. At this stage, the court will also fix a time period during which the class members may exclude themselves from the class action lawsuit by filing an opt-out form. Class members who do not opt from the class action by the deadline that will be fixed by the court will be bound by the outcome of the class action.

How can I join the class action?

There are no steps required to “join” this class action. Assuming you fall within the scope of the class definition, you would be automatically included in the class action unless you “opt out” (exclude yourself from the class action) after the lawsuit has been certified as a class action. Notices will be issued to the affected persons after the court certifies the class action.

Can I exclude myself from the class action?

Yes. After the class action is certified, you will be given an opportunity to opt out (exclude yourself from the class action). If you opt out, you will not be able to participate in any settlement or court award achieved in the class action, but you may be able to pursue your claim on an individual basis. Generally speaking, the class members would only want to opt out of a class action if they intend to bring individual litigation. In most circumstances, it is more cost effective to participate in a class action because the legal costs are spread over a large number of people, making it more economic for any individual class member to obtain relief.

What should I do to protect my rights?

To protect your rights, you should:

  1. Keep records of any purchases and sales of the common shares or other securities of Imperial between August 15, 2011 and August 4, 2014.
  2. While the class action is pending, notices will be disseminated to the class members advising that they should take certain steps by specific deadlines in order to preserve their rights. This information will also be made available on Siskinds’ website. These deadlines will usually be fixed by the courts, and will need to be adhered with in order to protect your rights.
  3. Register to receive updates on this case by filling out the form below. By submitting your information to Siskinds you do not retain Siskinds as your lawyers, nor do you incur costs in connection with this class action.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

What is a Class Action?

A class action is a lawsuit that is brought by one or more persons on behalf of a larger group of people whose claims share common legal and/or factual issues. Such people are commonly referenced as “class members.” Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

Who is affected by the Imperial class action?

You are affected by this class action and will be a “member” of the class if you acquired Imperial’s common shares or other securities between August 15, 2011 and August 4, 2014, and continued to hold some or all of those securities as of August 5, 2014.

Do I have to pay anything to participate in the class action?

No. Class members do not incur costs in connection with the class action. Class action lawyers are usually paid on a contingency basis. This means that class counsel are only paid if successful. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action on behalf of the class members. In certifying the lawsuit as a class action, the court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions). After the court certifies the lawsuit as a class action, usually notices will be disseminated to the class members. These notices will advise the class members that the lawsuit has been certified, and they will also set out the issues that the court will be asked to determine on behalf of the class members. At this stage, the court will also fix a time period during which the class members may exclude themselves from the class action lawsuit by filing an opt-out form. Class members who do not opt from the class action by the deadline that will be fixed by the court will be bound by the outcome of the class action.

How can I join the class action?

There are no steps required to “join” this class action. Assuming you fall within the scope of the class definition, you would be automatically included in the class action unless you “opt out” (exclude yourself from the class action) after the lawsuit has been certified as a class action. Notices will be issued to the affected persons after the court certifies the class action.

Can I exclude myself from the class action?

Yes. After the class action is certified, you will be given an opportunity to opt out (exclude yourself from the class action). If you opt out, you will not be able to participate in any settlement or court award achieved in the class action, but you may be able to pursue your claim on an individual basis. Generally speaking, the class members would only want to opt out of a class action if they intend to bring individual litigation. In most circumstances, it is more cost effective to participate in a class action because the legal costs are spread over a large number of people, making it more economic for any individual class member to obtain relief.

What should I do to protect my rights?

To protect your rights, you should:

  1. Keep records of any purchases and sales of the common shares or other securities of Imperial between August 15, 2011 and August 4, 2014.
  2. While the class action is pending, notices will be disseminated to the class members advising that they should take certain steps by specific deadlines in order to preserve their rights. This information will also be made available on Siskinds’ website. These deadlines will usually be fixed by the courts, and will need to be adhered with in order to protect your rights.
  3. Register to receive updates on this case by filling out the form below. By submitting your information to Siskinds you do not retain Siskinds as your lawyers, nor do you incur costs in connection with this class action.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

Contact Us

There Was An Error