What is the best class period for shareholders in Sino-Forest?

Ontario, Canada


The following excerpt is from Smith v Sino-Forest Corporation, 2012 ONSC 24 (CanLII):

For shareholders, Smith v. Sino-Forest is more accommodating; indeed, it is the most accommodating, in offering tickets to shareholders to board the class action train. Without prejudice to the arguments of the defendants, who may impugn any of the class period or class membership definitions, and assuming that the bondholders are also included, the best of the class periods for shareholders is that found in Smith v. Sino-Forest.

To be blunt, I found the rationales for shorter class periods in Labourers v. Sino-Forest and Northwest v. Sino-Forest somewhat paranoid, as if the plaintiffs were afraid that the defendants will attack their definitions for over-inclusiveness or for making the class proceeding unmanageable. Those attacks may come, but I see no reason for the plaintiffs in Labourers and Sino-Forest to leave at the station without tickets some shareholders who may have arguable claims.

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