The Supreme Court of Canada has dismissed an application for leave to appeal the decision of the B.C. Court of Appeal in The Los Angeles Salad Company Inc. v. Canadian Food Inspection Agency 2013 BCCA 34, thereby confirming the reluctance of Canadian Common law courts to impose a private law tort duty upon regulators acting in the public interest.
The appellants exported carrots from the U.S. to Canadian retailors. As a result of a negligent inspection by the Canadian Food Inspection Agency (“CFIA”), the CFIA erroneously concluded that the carrots might be contaminated which caused the appellants … Continue Reading
The Supreme Court of the United States has announced it will hear the appeal in Amgen Inc. v. Connecticut Retirement Plans and Trust Funds, setting the stage for an important clarification of the use of the “fraud-on-the-market” reliance presumption in U.S. securities class actions. The Court first set out the presumption in its 1988 landmark decision in Basic Inc. v. Levinson, 485 U.S. 224 (1988). The Amgen decision will have an impact in Canada, where courts have grappled with the question of reliance in such cases. Generally, Canadian courts have been sceptical about importing a “fraud-on-the-market” approach, but … Continue Reading