Overview
This representative action against the Ontario Municipal Employees Retirement Board, Borealis Capital Corporation, Borealis Real Estate Management Inc., Ian Collier, R. Michael Latimer and Michael Nobrega alleges that the Defendants breached their trust and fiduciary duties owed to the Plaintiffs and all members of the Ontario Municipal Employees Retirement System Pension Plan (the "Plan") and that the individual Defendants were unjustly enriched by entering into certain transactions which favoured them at the expense of the Plan. The Plaintiff seeks a series of declarations, damages and restitution to the OMERS Pension Fund (the "Fund") on behalf of all Members of the Plan.
By reasons dated February 16, 2006, the Ontario Superior Court appointed Wyman MacKinnon as the representative Plaintiff on behalf of persons who have a present, future, contingent or unascertained interest in these proceedings.