JSS Barristers files Proposed Class Action Respecting Richardson GMP Limited, Woodward Asset Management et al.
Appeal Dismissed. Proposed Class Action Respecting RGMP Limited, Woodward Asset Management et al. Not Certified.
On May 20, 2016, Jensen Shawa Solomon Duguid Hawkes LLP filed a proposed class action against Richardson GMP Limited, Adam Woodward operating as Woodward Asset Management, and Blair Pytak. The claim relates to investment and financial management decisions made by Mr. Woodward for clients of Richardson GMP, as well as Richardson GMP's supervision of Mr. Woodward.
In June 2019, the Court released a decision denying certification of the Action as a class action, on the basis that pursuing individual or group actions would be more appropriate. This decision was appealed to the Alberta Court of Appeal.
On April 5, 2022, the Alberta Court of Appeal upheld Justice Campbell’s decision that denied certification of the proposed class action. As such, any claims pertaining to the proposed class action will not proceed as a class action. Prospective class members may nevertheless elect to prosecute their claims individually or in small groups.
Applicable limitation periods during which individuals may prosecute their claims apply. There may be limitation periods affecting your ability to prosecute your claim. For this reason, if you believe you have a claim which falls within those proposed under the class, we strongly urge you to contact us, or any counsel, to discuss how your rights may be protected
The Alberta Court of Appeal’s decision can be found here.
Speaking to a Lawyer
Affected Woodward Asset Management clients are encouraged to contact:
Robert J. Hawkes QC