Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, January 13, 2014

Chiodo on Canadian Securities Class Actions

Suzie Chiodo has posted Victory for Access to Justice as Supreme Court of Canada Upholds Certification Decision in 'Market Timing' Class Action on SSRN with the following abstracts:

In a major victory for mutual fund investors, the Supreme Court of Canada has upheld a decision to certify the “market timing” class action (AIC Limited v Fischer). The decision means that securities class actions can proceed even where fines have been imposed or settlements reached in parallel regulatory proceedings by the Ontario Securities Commission (OSC). The decision has significant and positive ramifications for access to justice and has been described as “the most important class action decision this year”.

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