There are few, if any, legal issues affecting the investment industry that are more cloudy and less certain than whether investment firm clients belong to the investment advisor or to the investment firm. And there are arguably few issues more important. This question has been the subject of several widely divergent – and even confusing - court decisions on the issue over the past few years. [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 a unanimous decision written by Laskin JA and released late yesterday, the Ontario Court of Appeal overturned Canada’s first-ever class action judgment in favour of investors arising from misrepresentations by a corporation prior to its initial public offering ("IPO"). [more] Full article