What is the definition of a class and what is the scope of the class?
Ontario, Canada
The following excerpt is from Green v. Canadian Imperial Bank of Commerce, 2012 ONSC 3637 (CanLII):
In Silver v. Imax (Certification), the class was limited to those persons who acquired securities during the Class Period and continued to hold some or all of those securities at the close of trading on the last day of the Class Period, presumably to avoid the issue of “early sellers”, discussed below. In Arctic Glacier, the class was simply expressed to include all those who acquired units of the income fund during the Class Period.
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