The well-documented barrage of litigation against Montreal-based engineering and construction giant SNC-Lavalin continues. In a recent decision by Justice Perell in Peters v. SNC-Lavalin Group Inc., 2021 ONSC 5021, the Ontario Superior Court of Justice denied leave to commence a secondary market securities class proceeding under Part XXIII.1 of the Securities Act (“the Act”). The decision affirms the Supreme of Court of Canada’s characterization of the leave requirement in Theratechnologies inc. v. 121851 Canada inc., 2015 SCC 18 as a “robust deterrent screening mechanism” that is more than just a “speed bump”. Factual Background SNC was charged with offences under ... [more] Full article
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