Misrepresentation › Secondary Markets

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

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

Five-Judge Panel of Court of Appeal to Consider Limitation Period for Securities Class Actions

The Court of Appeal for Ontario announced this week that it will convene a special five-judge panel to hear appeals considering the statutory limitation period applicable to securities class actions for secondary market...more

Court Confirms No Need For Defendants To Lead Evidence In Motion For Leave Under Part XXIII.1 Of The Ontario Securities Act

In the recent decision of Dugai, Murphy v. Manulife Financial Corporation (2013 ONSC 327), the Divisional Court confirmed the principle that defendants have no obligation to lead evidence on a motion for leave to assert a...more