Ontario Court of Appeal (again) clarifies the limitation period for secondary market shareholder claims under the Ontario Securities Act
Part XXIII.1 of the Ontario Securities Act, which created a statutory cause of action for misrepresentation available to purchasers of securities on the secondary market (i.e. a stock market), was enacted more than 13 years ago to much fanfare. At that time, few would have predicted that the most troublesome and litigated section in Part XXIII.1 would be the section (s.138.14) that created a seemingly simple three year limitation period after a public company’s alleged misrepresentation was released within which to advance claims. First there was the 2011 Sharma v. Timminco decision which said that, unless leave to proceed under Part XXIII.1 was obtained within the ... [more]
Legal Systems in Canada: Overview
The Canada Chapter of Legal Systems Global Guide was authored by Christopher Somerville and Wendy Sun, Affleck Greene McMurtry LLP. [more]
Contributors
- Administrative Law (RSS) (23)
- Constitutional Law (RSS) (13)
- Municipal Law (RSS) (6)
- Political & Elections Law (RSS) (5)
- Announcements (RSS) (92)
- Canadian Law (RSS) (7)
- Canadian Law Whitepapers (RSS) (3)
- Case Summaries (RSS) (4)
- Commercial Litigation (RSS) (297)
- Anti-SLAPP (RSS) (3)
- Appeals and Judicial Review (RSS) (29)
- Arbitration (RSS) (20)
- Attacks on Business Interests (RSS) (5)
- Attacks on Reputation (RSS) (4)
- Banking Litigation (RSS) (10)
- Broker/Dealer litigation (RSS) (9)
- Civil Litigation (RSS) (13)
- Class Actions (RSS) (54)
- Conflicts of Law and Enforcement of Foreign Judgments (RSS) (16)
- Construction (including Performance and L&M Bond Defense) (RSS) (4)
- Corporate Litigation (RSS) (11)
- Debtor-Creditor and Banking Litigation (RSS) (11)
- Defamation (RSS) (9)
- Disputes over Contracts (RSS) (39)
- Disputes within Companies and Partnerships (RSS) (16)
- Employment Litigation (RSS) (32)
- Enforcement of Foreign Judgments (RSS) (7)
- Franchises (RSS) (4)
- Frauds, Misrepresentation, Deceit (RSS) (20)
- Injunctions (RSS) (10)
- Insurance Defence (RSS) (5)
- Intellectual Property (RSS) (5)
- International Trade (RSS) (6)
- Investor-State Disputes (RSS) (3)
- Legal Crisis Management (RSS) (2)
- Mediation and other Alternative Dispute Resolution (RSS) (8)
- Privacy Law (RSS) (4)
- Privilege (RSS) (1)
- Products Liability (RSS) (3)
- Professional Negligence and Discipline Hearings (RSS) (11)
- Remedies for Emergency Relief (RSS) (2)
- Securities Litigation (RSS) (74)
- Securities Regulatory (RSS) (13)
- Shareholder Litigation (RSS) (12)
- Speaking Engagements (RSS) (9)
- White Collar Crime (RSS) (5)
- Wrongful Dismissal (RSS) (12)
- Competition Law (RSS) (292)
- Abuse of Dominance (RSS) (11)
- Advice and Opinions (RSS) (2)
- Advice on Business Practices (RSS) (1)
- Anti-corruption (RSS) (10)
- CASL / Anti-Spam (RSS) (6)
- Civil Anti-Competitive Conduct (RSS) (26)
- Class Actions and Other Private Actions (RSS) (46)
- Competition Bureau Investigations (RSS) (28)
- Competition Tribunal Litigation (RSS) (18)
- Compliance Programs (RSS) (1)
- Conspiracy (RSS) (43)
- Consumer Protection (RSS) (22)
- Criminal Matters (RSS) (47)
- Fines & Settlements (RSS) (14)
- Indirect purchasers (RSS) (7)
- Marketing Practices and Telemarketing (RSS) (48)
- Mergers (RSS) (68)
- Private Actions (RSS) (12)
- Private Applications (RSS) (9)
- Developments (RSS) (215)
- In The Media (RSS) (32)
- Insurance Coverage Litigation (RSS) (4)
- Lawyer-Client Privilege (RSS) (1)
- Real Estate Litigation (RSS) (1)
- Uncategorized (RSS) (3)
- Year in Review / The Litigator (Print Edition) (RSS) (26)