RE: RE: OCAMPO SOLD !!!!!!! This is old news. To my knowledge, the main defendants are the brokerage firms that were involved in the share issuance. In my humble and possibly uninformed opinion, the likelihood of anything material impacting the company as a result of this legal action is remote. After 5 years, the case is still in the procedural stage.
From page 76 of the AIF, which can be accessed through SEDAR:
"McKenna Class Action
Ed J. McKenna issued a notice of action against the Corporation and certain other parties on February 5,
2008. A statement of claim was filed on March 6, 2008 and an amended statement of claim on July 11,
2008, in the Ontario Superior Court of Justice, Canada. The plaintiff alleges that the Corporation’s short
form prospectus dated April 19, 2007 contained a misrepresentation and other misstatements with
respect to production rates from the Corporation's gold mines in Mexico, as did certain disclosure
documents during the class period of October 10, 2006 to August 10, 2007, and also alleged that the
Corporation manipulated grant dates of stock options. On March 16, 2010, the class action was certified
in respect of investors who purchased securities through underwriters in Canada under its April 2007
prospectus. The Court did not at that time certify a claim in respect of secondary market purchasers. Following an appeal process with respect to a number of issues, on November 9, 2011 the
Court certified a common issue in respect of the tort of civil conspiracy for both investors who purchased
securities through underwriters in Canada and secondary market purchasers. The Corporation has
brought a motion for leave to appeal the November 9, 2011 decision.
The plaintiff seeks $150,000,000 in special and general damages and $10,000,000 in punitive damages
on behalf of the class. Certification is a procedural step in the litigation and no determination has been
made of the merits of the claim. The Corporation will continue to vigorously defend the matter, although
no assurances can be given with respect to the outcome of any proceedings."