Lexpert: SNC-Lavalin Shareholder Class Actions Settle for $110 Million

Lexpert reported on the court approval of a $110 million settlement in the SNC-Lavalin shareholder class action — described as the largest settlement of secondary market-only claims in Canada since Part XXIII.1 of the Securities Act (Ontario) was introduced in 2006. Justice Paul Perell approved the settlement, which arose from allegations of secondary market misrepresentation in connection with SNC-Lavalin’s disclosure of irregular payments totalling $56 million. Rochon Genova acted as co-counsel for the plaintiffs alongside Siskinds LLP and Siskinds Desmeules.