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] Full article
Alberta Court rules that an Alberta Securities Commission administrative penalty can survive bankruptcy
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.
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