Court denies leave to commence secondary market class action *

Canada - July 11 2012
In Green v. Canadian Imperial Bank of Commerce, a decision released on July 3, 2012, Justice Strathy denied the plaintiffs in a putative secondary market securities class action leave to assert a cause of action under Part XXIII.1 of the Ontario Securities Act (“OSA”).

Court of Appeal makes it clear that plaintiffs must obtain leave for secondary market class action within 3-year limitation period *

Canada - February 16 2012
In Sharma v. Timminco Limited, a decision released on February 16, 2012, the Court of Appeal for Ontario determined that section 28 of the Class Proceedings Act, 1992 (CPA) which allows for the suspension of a limitation period applicable to a cause of action asserted in a class proceeding, is not triggered until after leave is granted under Part XXIII.1 of the Securities Act to commence a statutory cause of action for misrepresentation.

Co-authors: Alan L. W. D'Silva , Lesley Mercer.

Ontario court discharges its "gatekeeper" role and denies certification in a putative defective consumer product class action *

Canada - November 30 2011
In  Williams v. Canon Canada Inc. released in November, Justice Strathy of the Ontario Superior Court of Justice refused to certify a putative class action on the basis that the plaintiffs had failed to establish even some “basis in fact” pertaining to the requirements for certification under section 5(1) of the Class Proceedings Act (the “CPA”).