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Misrepresentation › Class Action › Ontario Securities Act

Bennett Jones LLP

Ontario Court of Appeal Puts Teeth Into Leave Test for Secondary Market Misrepresentation Claims Under the Securities Act

Bennett Jones LLP on

It was another active year in securities class actions, with appellate courts demonstrating renewed interest in secondary market misrepresentation claims. In one such decision from February 2024, Drywall Acoustic Lathing and...more

Blake, Cassels & Graydon LLP

Honest Weight: Court of Appeal Affirms Threshold for Leave in Secondary Market Securities Class Action

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In its recent decision in Mask v. Silvercorp Metals Inc. (Mask), the Court of Appeal for Ontario (Court) dismissed an appeal of the denial of leave and certification to a proposed statutory secondary market securities class...more

Mintz - Securities Litigation Viewpoints

Ontario Superior Court Decision Confirms That “Public Correction” Requirement is a Temporal Marker

Mintz - Securities Litigation Viewpoints on

Under the Ontario Securities Act (“OSA”), a statutory right of action exists for secondary market misrepresentation for any person who acquires or disposes of an issuer’s securities within the relevant time period. An action...more

Blake, Cassels & Graydon LLP

Recent Decision Clarifies Availability of Defences at the Leave Stage in Statutory Securities Class Actions

Blake, Cassels & Graydon LLP on

The Ontario Superior Court of Justice’s (Court) recent decision in Rahimi v. SouthGobi Resources (Rahimi) confirms that courts will consider and evaluate defences at the leave stage of a statutory secondary market disclosure...more

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