There are Cdn class action lawyers, if they like the case then they just need a lead plaintiff to get started.
I still naiively think that a dividend will be declared. This LFD is small potatoes for the main guys, they have so much on the go. Seem odd/crazy to me that they would risk their reputation on it. I assume that they are thinking it through now with their lawyers, but a div would need a BOD meeting to declare it with the dates, and they might be waiting until the money is in the bank. No need to rush on their part!
The material to be voted on was very very specific as to the 10 cent dividend. It wasn't a possible outcome, it was the vote.
And if this did get to the class action stage, a good lawyer I think would argue that there has not been any change in control, and therefore these massive payouts are not valid. I am pretty sure it requires a change in control to validate them, but they of course will take them unless they are stopped. And sadly we dont have regulators who care about anything but lunch in Canada, the OSC is useless... so it has to be legal or bad publicity to make it happen.
just my thoughts... the mkt certainly says no dividend or we'd be over 15 cents.
good luck!