Investment Dealers Could Face Class Actions for Systemic Breaches of their Duty to Inform
Class Actions were created to be a more efficient and cheaper option for a number of people with common claims based on the same circumstances. However, class actions (obviously) cannot be used where an individual’s claim is unique to them, as is typically the case where a client sues a financial advisor or investment advisor for not adequately advising them. These cases usually turn on what was said by the parties as well as the plaintiff’s knowledge and circumstances. However, the Supreme Court of Canada’s decision in Desjardins Financial Services Firm Inc. v. Asselin, 2020 SCC 30 suggests that there ... [more] Full article
Canada’s top court dismisses video lottery class action and eliminates waiver of tort for class actions
In late July the Supreme Court of Canada issued a somewhat unexpected decision in a closely-watched class action about video lottery terminals (“VLT”). The decision, Atlantic Lottery Corp. v. Babstock, ... [more] Full article
Investors in Risky Securities Given Second Chance to Certify Class Action
The Ontario Court of Appeal recently held that a class action brought on behalf of investors in risky securities discloses a sufficient cause of action to be certified. The decision ... [more] Full article
Superior Court Certifies $1.0 Billion Foreign Exchange Price Fixing Class Action
In his decision released earlier this Spring, Ontario Superior Court Justice Paul Perell certified a class action in Mancinelli v. Royal Bank of Canada claiming $1.0 Billion in damages against ... [more] Full article