Oppression class actions now recognized in both British Columbia and Ontario
In recent years, much attention has been paid to amendments to provincial Securities Acts across Canada that make it easier for shareholders to sue for misrepresentations by public companies in financial statements and other public documents...
During this period significantly less attention has been paid to whether shareholder class actions might be brought under another and potentially much broader statutory remedy: the oppression remedy under one of the provincial or federal business corporations statutes. However, this may be changing.
Originally published in The Lawyers Weekly. [more] Full article
IIROC Increases mandatory arbitration award limits to $500,000
On January 14, 2010, the Investment Industry Regulatory Association of Canada (“IIROC”), the self regulatory organization (SRO) that regulates all investment dealers in Canada, enacted what is almost certain to be a major expansion of its 15-year-old mandatory arbitration program. In particular, IIROC has increased from $100,000 to $500,000 the upper limit on client claims that are required to be resolved through binding arbitration if the client requests it. [more] Full article
BCCA strikes down non-disclosure provision of Securities Act
In a recent B.C. Court of Appeal decision,[1] a British Columbia lawyer has successfully challenged the constitutional validity of the non-disclosure and confidentiality provisions found in the investigative powers given ... [more] Full article
The IMAX Case: Superior Court certifies first-ever Ontario shareholder class action for misrepresentations on the secondary market
In a pair of decisions released the same day, Justice Katherine van Rensburg of the Ontario Superior Court of Justice became the first judge to consider the statutory remedy created under section 138.3 of the Ontario Securities Act (the “Act”) for shareholders of public companies who suffer damages from public company misrepresentations on the secondary securities market in documents such as annual financial statements and other public documents. [more] Full article
Securities Litigation Contributors
Kenneth A. Dekker
Kenneth Dekker, a partner of the firm, is a successful trial and appellate lawyer who is valued by his clients as a resourceful and practical litigation counsel. Over more than two decades, Ken has litigated noteworthy cases in a range of fields that include class action defence, securities and broker-dealer litigation and regulatory defence, corporate and shareholder disputes (including oppression and winding up cases), defamation, civil fraud litigation, disputes over contracts, injunctions, professional liability litigation, employment litigation and cross-border litigation issues. Ken has appeared before all levels of courts in Ontario, including the Ontario Court of Justice, the Superior Court of Justice, the Divisional Court and the Court of Appeal for Ontario, as well as before the Supreme Court of Canada. Ken also represents and advises clients in regulatory matters before the Investment Industry Organization of Canada (IIROC), the Mutual Fund Dealers Association of Canada (MFDA) and the Ontario Securities Commission (OSC). Ken has been ranked as Repeatedly Recommended for Securities Litigation by Lexpert, for Corporate and Commercial Litigation by Best Lawyers of Canada, and he has been given the highest available rating of AV, or pre-eminent, by his peers on Martindale-Hubbell.
Peter R. Greene
Peter is a widely recognized and renowned litigator with substantial expertise in high profile and complex Commercial Litigation at the trial and appellate levels. Peter acts as counsel for insurance companies on professional liability, E&O claims, Director's and Officer's liability, and surety, fidelity and dishonesty bond claims. He has particular expertise in securities litigation and Regulatory Hearing, and has acted for Canada's largest investment firms. He regularly acts as defence counsel in large Class Actions before the courts in Ontario, and before national and provincial Regulatory agencies, boards and tribunals. Peter is regularly involved in large product liability and construction contract cases involving Construction Liens or Surety Bonds.
Meredith Hayward
Meredith has earned an impressive reputation for her skill and abilities in Commercial Litigation and Administrative Law, appearing at all levels of court in Ontario, before the British Columbia Court of Appeal, and before the Supreme Court of Canada.
Ardita Sinojmeri
Ardita joins Affleck Greene McMurtry LLP as an Associate Lawyer after completing her articles with the firm. Her growing practice encompasses a broad range of litigation matters including securities litigation, insurance defence, employment disputes, and shareholder disputes. Ardita earned her Juris Doctor from Western University’s Faculty of Law. Prior to joining the firm, she participated in a number of initiatives aimed at helping individuals and businesses struggling through COVID-19. Ardita looks forward to putting her legal, business, and community engagement skills to use in all the firm’s practice areas.
- Advisor’s Costly Conflict: Court Upholds OSC's $500K Penalty and Industry Ban against Advisor who inherited from elderly client
- The Ontario Court of Appeal Confirms: Independent Contractors Have a Duty to Mitigate
- Superior Court clarifies that unmet shareholder expectations do not always amount to oppression
Christopher Somerville
Chris brings a creative, strategic, and practical approach to litigation. His wide-ranging experience and expertise encompass numerous areas of law, including corporate/commercial, securities, employment, construction, product liability, asset recovery, and administrative law.
David N. Vaillancourt
David's practice expertise focuses on all matters of Commercial and Civil Litigation, Competition and Administrative Law. David has acted for clients in a wide range of disputes, including shareholder and partnership disputes, securities litigation, class action defence, proceedings under the Competition Act, employment law disputes, contract disputes, breach of confidence/intellectual property disputes, fidelity bond claims, and professional negligence claims. David has appeared before all levels of court in Ontario, including the Court of Appeal for Ontario, and has also appeared before the Competition Tribunal and the Federal Court of Appeal. David has appeared as lead counsel in numerous trials, hearings, and motions. David has been successful in numerous adversarial proceedings, and also has successfully negotiated the resolution of dozens of cases.
