The Ontario Court of Appeal recently released a significant decision on the insider trading provisions of provincial securities legislation. In Finkelstein v. Ontario Securities Commission, 2018 ONCA 61, the Court considered for the first time the insider trading and tipping scheme in the Securities Act, R.S.O. 1990, c. S. 5 (the “Act”), and particularly, the definition of a “person in a special relationship with an issuer” as it applies to successive tippees who share insider information.… Continue Reading
Litigation has to be fair to both sides of a dispute. Finality is an important aspect of that fairness. Where parallel proceedings have differences in process, procedure, or purpose, is it fair to allow the same parties to litigate the same issues? Or does the fairness of finality take precedence over considerations of process and purpose?
In Penner v. Niagara (Regional Police Services Board), 2013 SCC 19, the Supreme Court of Canada considered when a civil court should bar claims on the basis that the issues in dispute were finally disposed of in a prior administrative proceeding. A 4-3… Continue Reading
The Ontario Divisional Court has granted leave to appeal in Kaganovsky v. 2057057 Ontario Inc., which raises an interesting question as to whether there can be a conditional or partial waiver of solicitor-client privilege with respect to communications with a lawyer that a party has put in issue. In other words, once the privilege has been waived, is it necessarily waived in its entirety, or can the waiver be limited?
This question arises out of a motion by certain of the defendants (the “Khan Defendants”) for an order granting them leave to amend their statement of defence. The … Continue Reading
The Ontario Divisional Court recently granted leave to appeal in Johnston v. Sheila Morrison Schools, a certified class action involving allegations of negligence and breach of fiduciary duty against a school and its headmaster. The primary issue on appeal is whether students may make claims against schools on a several basis and thereby avoid exposing their parents to counterclaims or third-party claims.
The certification order provided for three classes of plaintiffs: (i) residential students, (ii) day students, and (iii) family members of residential students. A statement of defence was filed prior to certification. Following certification, the defendants sought to … Continue Reading