Superior Court Certifies $1.0 Billion Foreign Exchange Price Fixing Class Action
In his decision released earlier this Spring, Ontario Superior Court Justice Paul Perell certified a class action in Mancinelli v. Royal Bank of Canada claiming $1.0 Billion in damages against several large banks, including Credit Suisse Group AG; Deutsche Bank AG; the Royal Bank of Canada; and the Toronto Dominion Bank, relating to an alleged conspiracy to fix prices in the foreign exchange market. The claim alleged that, between 2003 and 2013, the Defendant banks, who controlled approximately 65% of the FX market trading in Canadian currency, conspired to fix the price of FX instruments as well as other collusive ... [more] Full article
Superior Court refuses to certify $100 million auditor’s negligence class action
In a decision released early this year, Mr. Justice Paul Perell of the Ontario Superior Court of Justice refused to certify a proposed $100 million class action against the former ... [more] Full article
Failure to Disclose Fees on Investment Accounts can be a Breach of Fiduciary Duty
On February 28, 2020, a judge of the Ontario Superior Court granted judgment in a class action and awarded an accounting of the profits realized by three Bank of Montreal ... [more] Full article
The Supreme Court’s Nevsun Decision Firmly Incorporates Customary International Law into Canadian Common Law in the Class Action Context
Can a Canadian company be held liable in Canada for breaches of International Law abroad? One of the Supreme Court of Canada’s most recent decisions definitively answers that question in ... [more] Full article