Strosberg Sasso Sutts LLP and Groia and Company Professional Corporation are counsel in a proposed class action in which plaintiff alleges that Lundin Mining Corp and certain of its officers and directors failed to disclose an evacuation and shutdown due to pit wall instability and a rock slide at the company’s Candelaria Mine in October 2017. Once these material changes were revealed, the price of Lundin securities dropped significantly, causing substantial damages to holders of Lundin securities.
On January 6, 2022, Justice Glustein of the Ontario Superior Court of Justice dismissed the plaintiff’s leave and certification motions.
On May 24, 2023, the Ontario Court of Appeal reversed the Superior Court and granted the plaintiff leave to proceed with his claims for secondary market disclosure under Ontario’s Securities Act.
Gregg Edwards was retained by Strosberg Sasso Sutts LLP and Groia and Company Professional Corporation, and provided expert testimony relating to market efficiency, economic materiality, and the computation of per-share damages suffered by Class Members pursuant to Section 138.5(1) of the Ontario Securities Act.
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