Ontario Affirms Gatekeeping Function Of Robust Leave Test For Securities Class Actions
The well-documented barrage of litigation against Montreal-based engineering and construction giant SNC-Lavalin continues. In a recent decision by Justice Perell in Peters v. SNC-Lavalin Group Inc., 2021 ONSC 5021, the Ontario Superior Court of Justice denied leave to commence a secondary market securities class proceeding under Part XXIII.1 of the Securities Act (“the Act”). The decision affirms the Supreme of Court of Canada’s characterization of the leave requirement in Theratechnologies inc. v. 121851 Canada inc., 2015 SCC 18 as a “robust deterrent screening mechanism” that is more than just a “speed bump”. Factual Background SNC was charged with offences under ... [more] Full article
Investment Dealers Could Face Class Actions for Systemic Breaches of their Duty to Inform
Class Actions were created to be a more efficient and cheaper option for a number of people with common claims based on the same circumstances. However, class actions (obviously) cannot ... [more] Full article
Canada’s top court dismisses video lottery class action and eliminates waiver of tort for class actions
In late July the Supreme Court of Canada issued a somewhat unexpected decision in a closely-watched class action about video lottery terminals (“VLT”). The decision, Atlantic Lottery Corp. v. Babstock, ... [more] Full article
Investors in Risky Securities Given Second Chance to Certify Class Action
The Ontario Court of Appeal recently held that a class action brought on behalf of investors in risky securities discloses a sufficient cause of action to be certified. The decision ... [more] Full article