Calgary based law firm Merchant Law Group has launched a $75 million class action lawsuit against Plains Midstream following its oil spill near Sundre.

On June 7, upwards of 3,000 barrels of oil -- about 470,000 litres -- leaked from Plains Midstream Canada's Rangeland Pipeline into Jackson Creek, a tributary of the Red Deer River near Sundre.

On Friday, Merchant Law Group LLP launched the suit against the company that seeks compensation for those living or working in the area of the spill who suffered physical and financial losses.

"If you transport a dangerous product, you are strictly liable for the dangerous product," said lawyer Tony Merchant said.

"If something goes wrong you have to pay compensation.

"We are confident we can recovery fully for people."

He said as a result of the spill, homeowners will have lost value in properties.

"People have suffered damage in that they lost the use of their property and they may have some clean up to do, that's one kind of financial damage," he said.

"The other kind is the decline in value of these properties as a result of this spill."

So far about 25 or 30 people have come forward as members.

To join the class action, call 1-800-Lawyers or visit www.merchantlaw.com/classactions/sundreoilspill.php .

Katie.schneider@sunmedia.ca