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]
During COVID-19, Read an Overview of Canada’s Legal System
Chris Somerville, Partner at Affleck Greene McMurtry LLP, co-authored the updated “Legal systems in Canada: overview” chapter of the Legal Systems Global Guide 2020, just published in the Practical Law series by Thomson Reuters. In this chapter Chris explains fundamental Canadian laws especially significant during the COVID-19 pandemic, including the federal Emergencies Act. [more]
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