Class action against Great West Life begins

A London courtroom heard the start of opening arguments yesterday in a class action trial that is scheduled to last 10 weeks.  Colleagues of mine at Harrison Pensa are acting for the class - arguing that when GWL bought London Life in 1997, they improperly used policyholder money to finance the purchase. Potential damages are hundreds of millions of dollars. Coverage of yesterday's proceedings is in the Toronto Star and the Financial Post.  Also see a Toronto Star article from a few days ago.