The motion for certification of this action as a class proceeding was argued on August 22 – 25, 2011. At the same time, Park Lane and the Lawyer defendants sought to have Mr. Cannon’s claims against them dismissed on a summary judgment basis. On January 18, 2012, this action was certified as a class proceeding against all the defendants except the independent directors of the Funds for Canada Foundation, and the summary judgment motions were dismissed. The Reasons for Decision can be read here (pdf).
The defendants all sought leave to appeal from the certification order. The Divisional Court heard motions for leave to appeal by each defendant on June 28, 2012. All the motions for leave to appeal were denied on October 29, 2012.