In October 2005, Siskinds commenced a class proceeding in the Ontario Superior Court of Justice relating to the so-called "merger of equals" between Molson Inc. and Adolph Coors Company. The Statement of Claim names as defendants the company that resulted from the "merger" -- Molson Coors Brewing Company -- as well as current and former officers and directors of Adolph Coors. In the Statement of Claim, it is alleged that the "merger" was in fact a takeover of Molson Inc. by Adolph Coors and that, in order to induce Molson shareholders to approve the takeover, the defendants distributed to them a circular containing various misrepresentations.
In November, 2008, a US$6 million settlement was reached which settled the claims arising in this action and similar actions commenced in Ontario, Québec and in the United States. A copy of the Stipulation and Settlement Agreement may be viewed here: [English] [French]
On December 12, 2008, the Honourable Judge Cullen of the Québec Superior Court (the “Québec Court”) preliminary approved the settlement and ordered that notice be issued to potential class members, advising them of the steps they needed to take in order to participate in, exclude themselves from and/or object to the settlement. A copy of the court approved, Notice of Class Action and Proposed Settlement including the Proof of Claim Form may be viewed here: [English/French]. Please note that all claim and opt out deadlines have now passed.
On April 9, 2009, Judge Cullen of the Québec Court approved the settlement. A copy of that judgment may be viewed here: [English]
On May 18, 2009, the settlement was approved by the United States District Court for the District of Delaware. A copy of that order may be view here: [English]. On May 26, 2009, the Ontario Superior Court of Justice dismissed the actions brought in Ontario. A copy of those orders may be viewed here: [English] [English].
On December 9, 2010, the United States District Court for the District of Delaware approved the final distribution of the settlement funds to the members of the class. A copy of that order may be viewed here: [English].