Monday, June 15
I met with Mr. John Blair today at Borden Ladner Gervais. It sounds like the best course of action is to get in touch with lots of other investors to coordinate a group lawsuit. This is sounding to be a bigger deal that I ever imagined and its best to get in touch with as many investors as possible.
Mr. Blair is going to get some information from the ASC to help determine if there is enough to move forward with legal action.
The ASC hearing is tomorrow. I've continued posting in more locations to try to meet other investors.
Here is the letter I sent out to Shire investors that I've met so far:
Dear Shire Investor,
Today I met with Mr. John Blair, Sr. Partner at Borden Ladner Gervais. At this time, he feels that a group law suit as a torte for misrepresentation is the best course of action rather than individual law suits or a class action suit. (A group law suit represents the individuals that come forward in the suit whereas a class action suit would represent all Shire Investors) He has not asked me for a retainer at this time and is proceeding with further investigation:
We will know more once the ASC hearing goes ahead at 2pm tomorrow. It is likely that a permanent cease trade order will be put in place against Cleone Couch, Shire International, Shire Asset Management Group, and other associated companies.
Mr. Blair has requested the ASC Affidavit for detailed information on the alleged fraud and misrepresentation. He could receive it as early as tomorrow or as late as Friday.
Mr. Blair will be doing further investigation which may or may not include running property searches etc.
Mr. Blair will be reviewing my OM’s for Fort McMoney Properties Ltd. and Halama Gardens Ltd.
Mr. Blair will be in touch with me later this week at which time we will discuss the merits of proceeding. I will update you again after our next discussion.
Further, with regards to the Chemainus group, a lawsuit would provide further ability to take over the Chemainus project. Also, there may not be sufficient funds/potential in the Chemainus project to recoup your investments. A dual course of action could be your best option – take over the project and join the group lawsuit. Again, I am not looking for commitment at this time.
As we are still investigating, I am still collecting names of investors and there is no commitment on your part to join the lawsuit. I am simply trying to get together a list of investors to send out updates and if is determined that there is sufficient grounds to go forward with a lawsuit, I’ll ask for commitments from interested parties at that time only. Unlike the Chemainus group, I will be acting as the point person for this potential group lawsuit and sending out emails with a BCC to the group to maintain confidentiality as I have been asked to do this by many of the people who have contacted me so far.
Please pass my name and contact information along to any other Shire investors that you may know of and encourage them to contact me so that I may add them to my investor list and send them updates as well.
For more information regarding Mr. Blair, please see his bio here:
http://www.blgcanada.com/home/our-professionals/B/Blair-John
