Class action rights enable representative members or depositors to seek Tribunal restraint and remedial orders against prejudicial company conduct. Class action standing allows a class of members or depositors to seek Tribunal orders to restrain ultra vires acts, breaches of the memorandum or articles, void or restrained resolutions obtained by suppression or misstatement, acts contrary to law or member resolutions, and to claim damages or other remedies against the company, directors, auditors, experts or advisors for fraudulent, unlawful, wrongful or misleading conduct. The Tribunal assesses good faith, potential ratification or authorization, and views of disinterested class members, and on admission issues public notice, consolidates similar actions, appoints or accepts a lead applicant, bars duplicative class suits, and directs cost allocation to responsible parties.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Class action rights enable representative members or depositors to seek Tribunal restraint and remedial orders against prejudicial company conduct.
Class action standing allows a class of members or depositors to seek Tribunal orders to restrain ultra vires acts, breaches of the memorandum or articles, void or restrained resolutions obtained by suppression or misstatement, acts contrary to law or member resolutions, and to claim damages or other remedies against the company, directors, auditors, experts or advisors for fraudulent, unlawful, wrongful or misleading conduct. The Tribunal assesses good faith, potential ratification or authorization, and views of disinterested class members, and on admission issues public notice, consolidates similar actions, appoints or accepts a lead applicant, bars duplicative class suits, and directs cost allocation to responsible parties.
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