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 auditor of disgraced portfolio management firm, Crystal Wealth Management Systems Ltd. Certification was denied on the basis that the Crystal Wealth’s auditor owed no duty of care to holders of the units of mutual funds managed and sold by Crystal Wealth. The proposed representative plaintiffs in Whitehouse v. BDO Canada LLP were former holders of units in mutual funds sold by Crystal Wealth – a discretionary portfolio management firm specializing ... [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
Alberta Court rules that an Alberta Securities Commission administrative penalty can survive bankruptcy
On January 17, 2020, Justice Romaine of the Alberta Court of Queen’s Bench released a potentially monumental decision in Alberta Securities Commission v Hennig. The decision arose out of an ... [more] Full article
Can an opinion be a misrepresentation? It depends on what you include in it. How misrepresentations made in opinions are treated under s. 138.3 of the Securities Act.
In a decision released on October 9, 2019 in DALI Local 675 Pension Fund (Trustees) v. Barrick Gold, 2019 ONSC 4160 (“DALI”) Justice Belobaba of the Ontario Superior Court considered ... [more] Full article
Securities Litigation Contributors
Jeremy Brodeur, Articling Student
Jeremy joins AGM from the University of Ottawa Faculty of Law, where he was involved in the law student union and competitive mooting. During law school, Jeremy and his team reached the semi-final round of the Vis Moot, ranking near the top of 385 law schools in the global competition. Jeremy looks forward to putting his passion for advocacy into practice at AGM.
Kenneth A. Dekker
Kenneth Dekker, a partner of the firm, is a successful trial and appellate lawyer who is valued by his clients as a resourceful and practical litigation counsel. Over more than two decades, Ken has litigated noteworthy cases in a range of fields that include class action defence, securities and broker-dealer litigation and regulatory defence, corporate and shareholder disputes (including oppression and winding up cases), defamation, civil fraud litigation, disputes over contracts, injunctions, professional liability litigation, employment litigation and cross-border litigation issues. Ken has appeared before all levels of courts in Ontario, including the Ontario Court of Justice, the Superior Court of Justice, the Divisional Court and the Court of Appeal for Ontario, as well as before the Supreme Court of Canada. Ken also represents and advises clients in regulatory matters before the Investment Industry Organization of Canada (IIROC), the Mutual Fund Dealers Association of Canada (MFDA) and the Ontario Securities Commission (OSC). Ken has been ranked as Repeatedly Recommended for Securities Litigation by Lexpert, for Corporate and Commercial Litigation by Best Lawyers of Canada, and he has been given the highest available rating of AV, or pre-eminent, by his peers on Martindale-Hubbell.
Peter R. Greene
Peter is a widely recognized and renowned litigator with substantial expertise in high profile and complex Commercial Litigation at the trial and appellate levels. Peter acts as counsel for insurance companies on professional liability, E&O claims, Director's and Officer's liability, and surety, fidelity and dishonesty bond claims. He has particular expertise in securities litigation and Regulatory Hearing, and has acted for Canada's largest investment firms. He regularly acts as defence counsel in large Class Actions before the courts in Ontario, and before national and provincial Regulatory agencies, boards and tribunals. Peter is regularly involved in large product liability and construction contract cases involving Construction Liens or Surety Bonds.
Meredith Hayward
Meredith has earned an impressive reputation for her skill and abilities in Commercial Litigation and Administrative Law, appearing at all levels of court in Ontario, before the British Columbia Court of Appeal, and before the Supreme Court of Canada.
Masiel A. Matus
Masiel has a broad commercial litigation practice and represents both national and international clients in a variety of complex matters. Masiel has experience litigating cases involving professional negligence, commercial leasing and real property disputes, insurance, contract disputes, shareholder disputes, fraud, breach of fiduciary duty, breach of trust, employment matters and defamation claims.
Ardita Sinojmeri
Ardita joins Affleck Greene McMurtry LLP as an Associate Lawyer after completing her articles with the firm. Her growing practice encompasses a broad range of litigation matters including securities litigation, insurance defence, employment disputes, and shareholder disputes. Ardita earned her Juris Doctor from Western University’s Faculty of Law. Prior to joining the firm, she participated in a number of initiatives aimed at helping individuals and businesses struggling through COVID-19. Ardita looks forward to putting her legal, business, and community engagement skills to use in all the firm’s practice areas.
David N. Vaillancourt
David's practice expertise focuses on all matters of Commercial and Civil Litigation, Competition and Administrative Law. David has acted for clients in a wide range of disputes, including shareholder and partnership disputes, securities litigation, class action defence, proceedings under the Competition Act, employment law disputes, contract disputes, breach of confidence/intellectual property disputes, fidelity bond claims, and professional negligence claims. David has appeared before all levels of court in Ontario, including the Court of Appeal for Ontario, and has also appeared before the Competition Tribunal and the Federal Court of Appeal. David has appeared as lead counsel in numerous trials, hearings, and motions. David has been successful in numerous adversarial proceedings, and also has successfully negotiated the resolution of dozens of cases.
