News & Analysis as of

Canada Ontario Securities Act Secondary Markets

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

Access Denied: Primary Market Liability Regime Not Available to Secondary Market Security Holders

In its recent decision in Rooney v. ArcelorMittal S.A. (Rooney), the Court of Appeal for Ontario (Court) held that primary market investors have the option of suing both the offeror and its directors and signatories for...more

Blake, Cassels & Graydon LLP

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

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

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

Mintz - Securities Litigation Viewpoints

CIBC v. Green: The Supreme Court of Canada Clarifies Key Provisions of the Ontario Securities Act and the Ontario Class...

A recent decision by the Supreme Court of Canada offers both clarity and further questions on the timing of secondary market misrepresentation claims brought under the Ontario Securities Act (the “Securities Act”). While we...more

Bennett Jones LLP

Court of Appeal Addresses Outstanding Issues in Securities Class Actions - Green v Canadian Imperial Bank of Commerce

Bennett Jones LLP on

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

Bennett Jones LLP

The Test for Leave under Part XXIII.1: Ambiguity Remains

Bennett Jones LLP on

Ontario's statutory regime for secondary market liability came into effect in 2006 as a result of amendments to the Securities Act (Ontario) (OSA), which created a statutory cause of action for deficient market disclosure....more

7 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide