Can an opinion be a misrepresentation? It depends on what you include in it. How misrepresentations made in opinions are treated under s. 138.3 of the Securities Act.
In a decision released on October 9, 2019 in DALI Local 675 Pension Fund (Trustees) v. Barrick Gold, 2019 ONSC 4160 (“DALI”) Justice Belobaba of the Ontario Superior Court considered whether investors in a gold mine in Chile could be granted leave to start a class action against prominent Canadian gold company, Barrick Gold, under s.138.8 of the Securities Act. In doing so, the Court not only addressed the test for being granted leave to proceed under with a secondary market investor loss claim under the Securities Act, but also considered for the first time in Canada the distinction between ... [more] Full article
The Ontario Superior Court of Justice has denied certification of the proposed class in a breach of privacy class action, which arose out of a cyber-attack against Casino Rama in November 2016. Justice Belobaba held that “the certification collapses in its entirety” as a result of the absence of commonality between the proposed class members, in accordance with s.5(1)(c) Class Proceedings Act. [more] Full article
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