Part XXIII.1 of the Ontario Securities Act, which created a statutory cause of action for misrepresentation available to purchasers of securities on the secondary market (i.e. a stock market), was enacted more than ... [more] Full article

On June 8, 2017, the Supreme Court of Canada denied leave to appeal from a decision of the Ontario Court of Appeal in Excalibur Special Opportunities LP v. Schwartz Levitsky ... [more] Full article

The requirement for leave of the court in order to proceed with secondary market claims under Part XXIII.1 of the Securities Act continues to evolve and be the subject of extensive judicial commentary almost ten years after it came into force. [more] Full article

The Supreme Court of Canada typically agrees to hear only about 10 – 15% of the cases that seek its attention. Not only does a proposed appellant need to explain ... [more] Full article