Ontario Court of Appeal Clarifies “Public Correction” in Securities Class Actions
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]
Ontario Court Upholds Termination Clause, Backing Employer Rights
The Private Competition Enforcement Review, 18th Edition
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