Ontario Superior Court of Justice, Court File No: CV-15-11073-00CL
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The Plaintiff alleges that the Defendants published the MD&A and audited financial statements for annual 2014 with misrepresentations by omitting material facts about the probability of the Company breaching the financial covenants with regards to their July 7, 2013 Loan Agreement, and the likelihood of default and corresponding collapse of North American Palladium’s investment quality and share value. The Plaintiff further alleges that that the Defendants negligently or intentionally withdrew the going concern language from the Company’s quarterly financial statements commencing with the publication of its 2014 second quarter financials.
Claim Issued: March 14, 2016
Class Period: July 30, 2014 to and including April 14, 2015
Shareholders’ Counsel: Andrew Morganti and Eli Karp, Morganti Legal
Shareholders’ Expert: Soheil Talebi, Lipton LLP
Corporate Defendants’ Counsel: Alan D’Silva and Alexandra Urbanski, Stikeman Elliott LLP
Auditor’s Counsel: Dana Peebles and Carole Piovesan, McCarthy Tétrault LLP