Court of Appeal Rules That NYSE and London Stock Exchange Purchasers Cannot Pursue Securities Class Action Claims Against BP in Ontario

Court of Appeal Rules That NYSE and London Stock Exchange Purchasers Cannot Pursue Securities Class Action Claims Against BP in Ontario

Today, the Court of Appeal for Ontario ruled that a proposed securities class action against BP, PLC cannot proceed on behalf of Canadians who purchased their securities in the United States and United Kingdom. The Court of Appeal overruled the lower court’s decision. Osler, Hoskin & Harcourt LLP represented BP in the proceedings.

The Challenge with Determining When the Writing is On the Wall: Insider Trading Case Considers Materiality of Confidentiality Agreement and Expired Unsolicited Offer

The British Columbia Securities Commission (BCSC) recently considered whether a consultant for a law firm had committed insider trading and breached the public interest when she traded a client’s shares with knowledge of undisclosed facts.