Court Clarifies Underwriters’ Exposure to Securities Act Claims

Court Clarifies Underwriters’ Exposure to Securities Act Claims

In his April 27, 2016 judgment in LBP Holdings v Allied Nevada Gold Corp., Justice Belobaba of the Ontario Superior Court of Justice refused to add the defendant issuing company’s underwriters as defendants to primary and secondary market misrepresentation claims under the Ontario Securities Act (“OSA”) in a putative class proceeding.

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