Rue v Assante Wealth Management (Canada) Ltd., 2014 ABQB 109

McLennan Ross acted for the corporate defendant in this class action proceeding that alleged investor loss on the part of a large class of investors. The investors alleged financial mismanagement and fraud as against the investment advisor and vicarious liability and some elements of direct liability on the part of the corporate defendant, the Dealer. The action was resolved amicably after a two day mediation and the settlement was approved by the case management judge. In an interesting interlocutory application arising from this action, the investment advisor sought a stay of the class proceedings pending final determination of the related criminal proceedings against him. The application was dismissed.