Court of Appeal clarifies meaning of public correction in upholding decision allowing Securities Class Action to Proceed

In a decision released early this month in Terry Longhair Professional Corporation v. Akumin Inc., Ontario’s Court of Appeal upheld the decision of Madam Justice Akbarali certifying a securities class action and granting leave for it to proceed under s.138.8 of the Securities Act against medical imaging company, Akumin Inc. In doing so, Ontario’s top court clarified what can amount to a “public correction” of a prior misrepresentation under Part XXIII and XXIII.1 of the Securities Act sufficient to potentially support a claim for damages by purchasers of securities on the primary and secondary markets. In the proposed class action, ... [more]
The Private Competition Enforcement Review, 18th Edition
- CIRO Celebrates pending legislation to enhance its investigative and enforcement powers in Ontario
- Understanding the Chilling Effect on Mergers and Market Share
- From Ink to Emojis: The New Era of Enforceable Contract Signatures
- Competition If Necessary: Balancing Policy & Consumer Welfare in Canadian Competition Law
Developments
From Funnel Cakes to Food Apps: Competition Bureau Takes Aim at Drip Pricing
The Canadian Competition Bureau has launched two separate legal actions against major companies for allegedly ... [more]
AGM remembers The Honourable Roy McMurtry, K.C., 1932 – 2024
The lawyers and staff of Affleck Greene McMurtry LLP send our condolences to the family ... [more]
It has a name! New Self-Regulatory Organization (finally) announces its new name
On January 1, 2023, the amalgamation of investment industry self-regulatory organizations, the Investment Industry Regulatory ... [more]
MFDA and IIROC Members vote to amalgamate and form “New SRO”
In a vote held on September 29, 2022, members of the Mutual Fund Dealers Association ... [more]
More Developments
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