In a pair of decisions released the same day, Justice Katherine van Rensburg of the Ontario Superior Court of Justice became the first judge to consider the statutory remedy created under section 138.3 of the Ontario Securities Act (the “Act”) for shareholders of public companies who suffer damages from public company misrepresentations on the secondary securities market in documents such as annual financial statements and other public documents.

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A proposed class action by purchasers of electronic goods containing DRAM memory chips would degenerate into a series of individual trials, the British Columbia Supreme Court has held in Pro-Sys Consultants Ltd. v. Infineon Technologies AG.2 Key issues, including whether the plaintiffs paid more because of price-fixing by manufacturers of the chips, could not be determined on a class-wide basis. The court thus refused to certify the action as a class proceeding.

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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.

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The US Court of Appeals for the District of Columbia has rejected the latest attempt by foreign plaintiffs to sue in the US for injury caused outside of the US by an alleged worldwide conspiracy to fix the price for…

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In April 2004, the Supreme Court ordered Enbridge Gas Distribution to pay back late payment penalties charged to gas customers that exceeded the limit on interest rates in the Criminal Code. This decision provides a reminder that companies that are not careful in setting interest rates can get into trouble.

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