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Published on: 1 Oct 2019 By ,

Private Placement Securities Litigation in Ontario

This has been the year of cannabis market sector scandals. Headlines have been thick and fast. Investor losses have been significant. A large part of the financing that facilitated the massive growth of the cannabis sector has been through the prospectus exempt issuance of securities (more c…

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Published on: 26 Sep 2019 By

Financial Restatements and Leave under Part XXIII.1 of the Securities Act in Cappelli v Nobilis Health Corp.: A Step in the Wrong Direction

In Cappelli v Nobilis Health Corp.[1] (“Cappelli”), Justice Perell, for purposes of a leave motion under Part XXIII.1 of Ontario’s Securities Act (“OSA”), considered the evidentiary value of an issuer’s public disclosure that it was restating previous financials and had control weaknesses. H…

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Published on: 24 Sep 2019 By

Siskinds LLP Class Actions Team Ranked in Top Band of the Chambers Canada 2020 Guide

The class actions team at Siskinds LLP has been ranked in the top band of the Chambers Canada 2020 guide, issued by international legal research organization, Chambers and Partners.  The firm was credited with consistently winning praise among interviewees, with sources noting: “It has…

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Published on: 20 Sep 2019 By

Godfrey v Sony: Supreme Court Protects Victims of Price-Fixing Conspiracies

On September 20, 2019, the Supreme Court of Canada issued a decision in Godfrey v Sony Corp., a class action related to alleged price-fixing in the market for optical disc drives (“ODDs”). The decision provides clarity on four significant issues in price-fixing litigation. The Co…

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Published on: 12 Aug 2019 By

Vedanta Resources PLC v Lungowe, [2019] UKSC 20

Removing straitjackets, and widening the potential scope of parent company liability for a subsidiary’s actions Can the parent company of a multinational group owe a duty of care to a third party for the actions of a foreign operating subsidiary? There remains no definitive answer at the tim…

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Published on: 7 Aug 2019 By

Speeding up Certification by Extending Filing Deadlines?

On July 17, 2019, the Law Commission of Ontario (“LCO”) released its final report, Class Actions: Objectives, Experience and Reforms. The LCO report makes 47 recommendations to reform Ontario’s Class Proceeding Act (“CPA”) and related policies. One major theme of the report is that the speed…

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Published on: 28 May 2019 By ,

Hughes v. Liquor Control Board of Ontario: Ontario Court of Appeal provides guidance on breadth of the Regulated Conduct Defence

On April 17, 2019 the Court of Appeal of Ontario released its decision in Hughes v. Liquor Control Board of Ontario, 2019 ONCA 305 [Hughes]. The Court of Appeal’s decision provides guidance to counsel on the scope of the Regulated Conduct Defence (the “RCD”). The RCD is a defence in the Comp…

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Published on: 22 Apr 2019 By ,

Mandatory Arbitration Provisions in the Class Action Context

Mandatory Arbitration Provisions in the Class Action Context: TELUS Communications Inc. v. Wellman, 2019 SCC 19 On April 4, 2019, the Supreme Court of Canada issued reasons in TELUS Communications Inc. v. Wellman. The Supreme Court’s 5-4 decision provides important guidance on the applicabil…

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Published on: 19 Feb 2019 By

Putting Short Sellers on a (Regulatory) Leash

Traditional investors buy low and sell high, holding the position in the meantime with the hope that the share price will increase.  Short-selling inverts this strategy and involves borrowing a stock that is believed to be overvalued, selling at the high point, and then returning the shares …

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Published on: 20 Dec 2018 By

ONCA holds that umbrella purchasers have a cause of action in a price-fixing class action

Shah v LG Chem Ltd., 2018 ONCA 819 Background: In this class action, the plaintiffs allege that the defendants conspired to fix the prices of lithium-ion batteries (“LIBs”) in North America and elsewhere between January 2000 and December 2011. As a result, the plaintiffs paid higher prices f…

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