Supreme Court Hearings - Canadian Imperial Bank of Commerce, et al. v. Howard Green, et al.
Case # 35807
Canadian Imperial Bank of Commerce, et al. v. Howard Green, et al. (February 9, 2015)
Case # 35811
IMAX Corporation, et al. v. Marvin Neil Silver, et al. (February 9, 2015)
Case # 35813
Celestica Inc., et al. v. Trustees of the Millwright Regional Council of Ontario Pension Trust Fund, et al. (February 9, 2015)
In these three cases, the representative plaintiffs are claiming damages under Part XXIII.1 of the Ontario Securities Act. The damages claimed were for misrepresentations alleged to have been made in respect of shares trading in the secondary market. In addition to common law negligent misrepresentation claims, they make a claim based on the new statutory cause of action. The new statutory cause of action can only be commenced with leave of the court and is subject to a three-year limitation period. The plaintiffs brought a motion seeking leave beyond the three-year limitation period.