December 06, 2016
In Canada, large pension funds are hardly ever lead plaintiffs in domestic class actions, a striking contrast with the U.S. where this is frequently the case. However, for years, some of Canada’s largest pension funds have been lead plaintiffs in U.S. class actions with a degree of regularity. Mitch Frazer, chair of our Pensions and Employment Practice was sought by the Legal Post for his insight on the difference between being a lead plaintiff in a class action in Canada versus the U.S. In the article, Mitch explains that “Pension funds in the U.S., especially CalPERS, are more activist and like to be the face of the class action,” however, he goes on to suggest why there is a degree of complexity to a large pension fund being a lead plaintiff domestically. Below is an excerpt from the article.
“Think about the sheer size of our largest pension funds and how they seek investments around the world,” [Mitch] says. “It may not be good business for them to have a history of suing the companies they invest in.”
To read the full article, click here.