NOTICE OF DISCONTINUANCE OF ONTARIO SUPERIOR COURT OF JUSTICE COURT FILE NO. 16-70276 AGAINST DESJARDINS FINANCIAL SECURITY INVESTMENTS INC., WORLDSOURCE FINANCIAL MANAGEMENT INC., ASSANTE CAPITAL MANAGEMENT LTD., CONRAD EAGAN and ALISTAIR MELVILLE
A lawsuit, commenced in October 2016, against Desjardins Financial Security Investments Inc., Worldsource Financial Management Inc., Assante Capital Management Ltd., Conrad Eagan and Alistair Melville in the Ontario Superior Court of Justice was discontinued by Order of the Court on November 23, 2022.
The lawsuit was commenced as a proposed class action under the Class Proceedings Act, 1992, S.O. 1992, c. 6, alleging breach of fiduciary duty, breach of contract, breach of duty of care, negligence, conversion and unjust enrichment of the Defendants Conrad Eagan and Alistair Melville and negligence, breach of duty of care, breach of contract and vicarious liability for the conduct of the Defendant Conrad Eagan and/or Alistair Melville of the Defendants Desjardins Financial Security Investments Inc., Worldsource Financial Management Inc. and Assante Capital Management Ltd. The proposed Class was defined as all persons, including their estates, executors or personal representatives, other than the named Defendants and their immediate family members, in Canada who had investment accounts serviced by Conrad Eagan between January 1, 2006 and December 31, 2015 inclusive who transferred funds to bank accounts or corporations controlled by Conrad Eagan or Alistair Melville.
The Plaintiff, Rodney Sabourin, by his Litigation Guardian David Sabourn, claimed damages arising from an alleged investment scheme operated by the Defendants Conrad Eagan and Alistair Melville while one or both individual Defendants were allegedly employed by or affiliated with the Defendants Desjardins Financial Security Investments Inc., Worldsource Financial Management Inc. and Assante Capital Management Ltd. in which, it is alleged, the Defendant’s Conrad Eagan and Alistair Melville misappropriated the Plaintiff’s funds that were entrusted to the Defendants Conrad Eagan and Alistair Melville for the purpose of investment. It is alleged in the Plaintiff’s claim that there were other investors who had funds misappropriated by the Defendants Conrad Eagan and Alistair Melville.
A discontinuance of the lawsuit means that it is not going forward or being pursued. If you are/were relying on this action to protect your rights, you should seek your own legal advice immediately. Discontinuance of the action means that any applicable limitation periods in respect of these claims, which may have been suspended, began running again on the date of the Order, and will ultimately expire (if they have not already done so).
Should you have any questions, please do not hesitate to contact:
Norman Mizobuchi at nm@sulaw.ca or 613-563-1010
OR
Spiteri & Ursulak LLP at info@sulaw.ca or 613-563-1010
