Canadian Judge Certifies Global Imax Class Action

Law360, New York (December 17, 2009, 3:26 PM EST) -- A Canadian court has handed a double victory to plaintiffs in a stockholder suit against Imax Corp., allowing them to proceed with a claim that Imax made misleading statements that affected the secondary stock market and certifying a worldwide class.

Justice Katherine M. van Rensburg of the Ontario Superior Court of Justice ruled Monday that the plaintiffs had met a “relatively low threshold” set by a 2005 Canadian law, similar to America's Securities Act, for pleading a securities fraud claim. The decision is the first test...
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