Michael Beeforth

Michael Beeforth

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UPDATE: Zungui Class Action Settlements Against Remaining Defendants Approved By Court

On August 27, 2013, Justice Perell released his decision (2013 ONSC 5490) approving three settlements valued at $10.85 million, bringing the class action against Zungui Haixi Corp. (“Zungui”) and others to a close. Under the...more

9/24/2013 - Canada Class Action Investors Settlement Shareholder Litigation

Class Action Decision Considers Secondary Market Misrepresentation Actions

On July 25, 2013, Justice Belobaba of the Ontario Superior Court of Justice released his decision (2013 ONSC 4083) certifying a proposed class action brought by the Ironworkers Ontario Pension Fund against Manulife Financial...more

8/29/2013 - C-Suite Executives Canada Class Action Misrepresentation Ontario Securities Act

UPDATE: Proposed Class Action Based On Offering Document Misrepresentations Certified For Purposes Of Settlement

On May 21, 2013, Perell J. certified a proposed class action against certain defendants in Zaniewicz v. Zungui Haixi Corp. based on misrepresentations in Zungui’s IPO offering documents and other disclosure documents,...more

8/14/2013 - Audits Canada Class Action Documentation IPO Misrepresentation Offers Ontario Securities Act Ontario Securities Commission Settlement

Class Proceeding Against Investment Advisor, Firm And Trustee Certified At The Expense Of Individualized Causes Of Action

Verbeek was an investment advisor and, at some relevant times, a registered representative of the defendant Dundee Securities Corporation (“Dundee”). According to the plaintiffs’ allegations, between August 1998 and June...more

8/2/2013 - Breach of Duty Canada Class Action Class Certification Fiduciary Duty Fraud Investment Adviser Retirement

Court Confirms That S. 130 Of The Ontario Securities Act Applies Only To Primary Market Purchasers

In the recent decision of Tucci v. Smart Technologies Inc. (2013 ONSC 802), Justice Perell confirmed that the statutory cause of action for misrepresentation in a prospectus (set out in s. 130(1) of the Ontario Securities...more

2/22/2013 - Class Action IPO Misrepresentation Ontario Securities Act Primary Market Purchasers Prospectus Rescission Secondary Markets Section 130 Securities

Court Of Appeal Agrees To Reconsider Timminco

On February 6, 2013, the Court of Appeal for Ontario agreed to review its much discussed decision in Sharma v. Timminco Limited (2012 ONCA 107). Background - Timminco concerned a proposed class action in which...more

2/22/2013 - Class Action Limitation Periods Misrepresentation Motion To Reconsider Ontario Securities Act Secondary Markets Sharma v Timminco

Deloitte & Touche Inc. Seeks To Discontinue Class Action Against Bre-X Principals

Deloitte & Touche Inc. (“Deloitte”), the long-acting trustee for the Estate of Bre-X Minerals Ltd., has brought motions in the Alberta and Ontario courts seeking leave to discontinue the class action litigation that it has...more

1/23/2013 - Class Action Cross Motions Deloitte Fraud Motion for Leave

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