In a pair of decisions released the same day, Justice Katherine van Rensburg of the Ontario Superior Court of Justice became the first judge to consider the statutory remedy created under section 138.3 of the Ontario Securities Act (the “Act”) for shareholders of public companies who suffer damages from public company misrepresentations on the secondary securities market in documents such as annual financial statements and other public documents. [more] Full article

Contributors: Michael Osborne , Jennifer Cantwell, Sandra Monardo, Michelle Booth, Sonny Ingram, Hooman Zardarzadeh TOP STORIES Ice storm Ice supplier Arctic Glacier Inc. tried to crush its fledgling competitor, Polar Ice Express Inc. by unlawfully interfering with its economic relations, an Alberta court found... [more] Full article

Canada’s Supreme Court upheld the dismissal of Canada’s first-ever securities class action judgment in favour of investors relating to alleged misrepresentations on an initial public offering. [more] Full article

In the public sector, fraud prevention begins with understanding the main types of fraud that occur, including: a) contracting/procurement fraud; b) claims/benefits fraud; and c) corruption/influence peddling. It is important to have in place mechanisms to both prevent and minimize the risk of fraud and to monitor and investigate situations in which fraud might be occurring. [more] Full article