In ruling that a securities regulatory authority's disgorgement orders (a sanction stemming from misconduct) survive a bankruptcy discharge while its administrative penalties do not, the Supreme Court of Canada endorsed the...more
In Lochan v Binance Holdings Limited, 2023 ONSC 6714 (Binance), the Ontario Superior Court dismissed a motion brought by Binance Holdings Limited (Binance), the world’s largest crypto trading platform, to stay a proposed...more
In Buduchnist Credit Union Limited v. 2321197 Ontario Inc., 2024 ONCA 57 (Buduchnist), the Court of Appeal for Ontario has affirmed that superior courts have broad and flexible jurisdiction to address breaches of...more
In a first-of-its-kind decision, R. v. Bykovets, 2024 SCC 6 (Bykovets), the Supreme Court of Canada has adopted a broad view of internet privacy—at least in the criminal and public authority context—finding that internet...more
In ruling that the Ontario government is not required to turn over Cabinet mandate letters, the Supreme Court of Canada has adopted a broad and expansive view of Cabinet confidentiality. The Supreme Court's decision brings...more
As a result of measures designed to limit the spread of COVID-19, Canadian public companies are reconsidering typical approaches to annual meetings of shareholders. Many public companies are deciding to hold virtual or hybrid...more
On May 2, 2019, the Supreme Court of Canada denied leave to appeal from the Ontario Court of Appeal’s decision in Lavender v Miller Bernstein LLP1. The Supreme Court’s decision marks the end of a 14-year legal battle that has...more
A recent decision of the Alberta Securities Commission appears to give short-sellers wide latitude to negatively comment on targets, and sets a potentially high burden on ASC Staff when seeking interim orders to address...more
On September 5, 2018, the Court of Appeal for Ontario released its decision in Lavender v Miller Bernstein LLP,1 overturning a summary judgment ruling that imposed significant liability on an auditor in previously...more
In a decision of critical interest to the holders of overriding royalties in the mining and oil and gas sectors, the Ontario Court of Appeal has clarified the test used to determine when a royalty interest constitutes an...more
On March 14, 2018, the Honourable Justice Penny of the Ontario Superior Court (Commercial List Division) released a decision granting a US$2.6-billion judgment to the SFC Litigation Trust for fraud and breach of fiduciary...more
4/17/2018
/ Breach of Duty ,
Canada ,
Canadian Securities Administration ,
Enforcement Actions ,
Evidence ,
Internal Investigations ,
Jurisdiction ,
Mareva Injunctions ,
Ponzi Scheme ,
Securities Fraud ,
SFC ,
Toronto Stock Exchange
The Supreme Court of the United States has refused to broaden protections for employee-whistleblowers under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). In Digital Realty Trust Inc v....more
2/27/2018
/ Anti-Retaliation Provisions ,
Digital Realty Trust Inc v Somers ,
Dodd-Frank ,
Internal Reporting ,
Reporting Requirements ,
Sarbanes-Oxley ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Protection Policies ,
Whistleblowers
After a lengthy, acrimonious and costly proxy contest to remove three directors of Taseko Mines Limited (“Taseko”) and elect its own nominees, in early May, 2016, activist investor Raging River Capital LP (“Raging River”)...more
Ontario's statutory regime for secondary market liability came into effect in 2006 as a result of amendments to the Securities Act (Ontario) (the OSA), creating a statutory cause of action for deficient market disclosure....more
A much-anticipated decision of the U.S. Supreme Court, Halliburton Co. v. Erica P. John Fund, Inc. was released on June 23, 2014. While the Supreme Court upheld the "fraud on the market" presumption of reliance which has made...more
6/26/2014
/ Basic v Levinson ,
Class Certification ,
Fraud ,
Fraud-on-the-Market ,
Halliburton ,
Halliburton v Erica P. John Fund ,
Presumption of Reliance ,
Rule 10(b) ,
SCOTUS ,
Securities Exchange Act ,
Securities Fraud
In reasons publicly released on Thursday March 27, 2014, Chief Justice Bauman certified two classes of Canadian merchants who allege a price-fixing conspiracy related to Visa and MasterCard interchange fees. As the first...more
On March 11, 2014, the Ontario Securities Commission (OSC) issued Staff Notice 15-702 – Revised Credit for Cooperation Program (Staff Notice 15-702). Staff Notice 15-702 carries forward various existing codified or informal...more
On March 13, 2014 the Supreme Court of Canada dismissed applications for leave to appeal by a group of alleged former institutional shareholders of Sino-Forest Corporation. These institutions unsuccessfully sought leave to...more
Ontario's statutory regime for secondary market liability came into effect in 2006 as a result of amendments to the Securities Act (Ontario) (the OSA), creating a statutory cause of action for deficient market disclosure....more
In a much-anticipated decision released on January 23, 2014, Hryniak v Maudlin, 2014 SCC 7, the Supreme Court of Canada articulated a new approach to summary judgment under Rule 20 of Ontario's Rules of Civil Procedure (RRO...more