Plaintiff
Defendant
Background: Michael Tietz, Duane Loewen, Robin Lee, Mike Dotto, Grant Greenwood, Malcolm Runkee, Americo Morlani, Greg Lomnes, and Stacey Dionne, plaintiffs, filed against Bridgemark Financial Corp. and others, alleging a scheme involving private placements of shares. The plaintiffs sought class certification under the Class Proceedings Act.
Legal Arguments/Issues: The plaintiffs argued that Bridgemark Financial Corp. and others engaged in an unlawful conspiracy to inflate share prices through fraudulent private placements. They claimed the defendants misrepresented proceeds and their use, leading to securities fraud. The scheme involved issuing shares for consulting agreements, with substantial proceeds returned as fees. The plaintiffs cited fraudulent and negligent misrepresentation and statutory violations under the Securities Act.
Class Action Certification: The court evaluated criteria for class action certification, including an identifiable class, common issues, and the suitability of a class proceeding. The court emphasized judicial economy, access to justice, and behavior modification.
Rulings: The court granted the plaintiffs’ application for class certification, recognizing claims of unlawful means conspiracy, fraudulent misrepresentation, and statutory secondary market liability. The court determined the claims presented common issues suitable for class action.
Costs/Award: The document did not specify the total costs or any award at the certification stage, focusing instead on the procedural aspect of class certification.
Court
Supreme Court of British ColumbiaCase Number
S197731Practice Area
Corporate & commercial lawAmount
Winner
PlaintiffTrial Start Date
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