Securities and Shareholder Litigation in Canada

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Securities and Shareholder Litigation in Canada

Securities and Shareholder Litigation in Canada

You are currently viewing Dentons' capabilities in Securities and Shareholder Litigation in Canada. To view capabilities in other regions please select below:

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Regional Capabilities

At Dentons, we understand that disputes are part of doing business. We manage your disputes by delivering innovative, flexible and pragmatic solutions so you can stay focused on what matters most – growing your organization.

Our focus is first and foremost on risk management. Our team can work with you to conduct compliance and litigation risk assessments, develop and/or update policies and advise on best practices and stress testing, which are critical steps to mitigating compliance risk and avoiding civil and regulatory proceedings.

When disputes arise, our team will provide a vigorous defense when you need it most and will work to protect your brand and reputation. We have extensive experience in defending capital market participants in high-stakes matters before all levels of courts, self-regulatory organizations and securities commissions across Canada, including:

Contentious regulatory matters and investigations;
Enforcement disputes;
Capital market disputes;
Proxy contests;
Earn out disputes;
Hostile takeovers;
Shareholder disputes;
Contested tender offers;
Broker/dealer litigation;
Securities class actions; and
Mediation and arbitration proceedings.

What differentiates us:

Securities regulatory insight: With financial market regulators around the world increasingly cooperating on global enforcement, businesses need a global law firm with experienced lawyers who understand worldwide markets. Described as a “powerhouse” by more than 300 general counsels polled by BTI Consulting Group – Dentons advises registrants, financial institutions and other trading participants when issues arise in connection with civil, class action, regulatory and criminal litigation. Our group includes a former securities prosecutor who offers a unique perspective on the Canadian securities regulatory regime and knows what regulators are looking for. We will keep you up to date on the ever-evolving securities regulatory environment in Canada, ensuring that you have the information and tools needed to remain compliant.

For more information on our Financial Markets Litigation and Regulation services, click here.

Securities class action: We have successfully defended a range of market participants in sophisticated, securities class actions and shareholder derivative actions. We are at the forefront of critical, headline-making issues arising in the securities arena today, and this combined with our industry-leading experience, enables us to provide our clients with the most effective responses to class litigation. We cater our legal services by employing a range of defence strategies that reduce or eliminate the exposure of our clients, including managing risk, opposing motions for class action certification in a focused and strategic manner, developing defendant-sponsored preferable procedures that enable a defendant to both control the process and tailor it to the operations of its particular business, and devising and implementing innovative settlement strategies. Our priority is to successfully protect your business and preserve your reputation.

Our “one firm” approach: We work closely with our Securities and Corporate Finance team, who provide innovative, practical, forward-thinking approaches to capital market transactions, to provide you with a seamless service. When you work with us, you benefit from the experience of a team of litigators and corporate lawyers who know the market from all angles and can help you grow your business, mitigate risk and provide litigation defense as a one-stop-shop.

As the world’s largest law firm, we have access to Dentons global platform and can assist multinational clients faced with international securities disputes seamlessly with our “one firm” approach. Our goal is always to resolve disputes early in the most cost-efficient manner possible.

Experience

Confidential client: Representing two of the world’s largest financial institutions in connection with their role as underwriters of offerings by Sino-Forest Corporation and related securities class actions.
Confidential client: Representing our client in connection with the Ontario Securities Commission’s investigations relating to insider trading and registration matters.
Confidential client: Acting as leading counsel for a securities dealer in a proposed class action related to the receipt of trailing commissions by Order Execution Only (OEO) investment dealers.
Confidential client: Acting for a securities dealer in obtaining a summary dismissal of a CA$10 million wrongful dismissal action.
Confidential client: Acting as lead counsel to a multinational financial institution in proposed class proceedings related to allegations of manipulation in global foreign exchange markets.
Confidential client: Acting as lead counsel to a multinational financial institution in proposed class proceedings related to allegations of manipulation in the global gold and silver markets.
Confidential clients: Acting as lead counsel to a financial institution in proposed class proceedings brought by the Federal Court of Canada related to allegations of manipulation in the market for SSA Bonds.
Confidential clients: Advising in connection with the Ontario Securities Commission’s emerging markets disclosure reviews.
Confidential client: Acting as counsel to a Canadian mining company’s concern regarding a dispute over security terms.
Confidential client: Acting as counsel to a multinational financial institution in connection with a significant securities regulatory investigation in Ontario.
Confidential client: Acting for the auditor of a publicly traded company in the context of a shareholder action based on prospectus misrepresentation.
Confidential client: Acted in arbitration proceedings in a derivatives portfolio valuation dispute for a major participant in the collapse of the Icelandic banking sector in the 2008-2011 global financial crisis.
Confidential client: Acted as co-counsel to a significant Latin American sugar producer in arbitration proceedings related to the execution of trades in commodities futures on a transnational exchange.
Confidential client: Acted for the trade finance division of a large French bank in an arbitral dispute with a Brazilian financial institution as to the enforceability of exchange-traded credit support instruments.
CV Technologies Inc.: Acting as defence counsel in a precedent-setting class action case under s. 138 of the Ontario Securities Act regarding secondary market liability.
Deloitte LLP: Representing as lead counsel in connection with a secondary market securities class action in the Ontario Superior Court of Justice.
Deloitte & Touche: Advising on upholding an earlier dismissal of a proposed CA$100 million securities class action against, among others, Deloitte, in connection with a public offering of shares in the failed waste management company, Philip Services Corp.
Grant Thornton: Counsel to Grant Thornton in a CA$100 million class-action lawsuit brought on behalf of the company’s shareholders. This lawsuit represents one of the first test cases for secondary market disclosure legislation recently implemented in both Alberta and Ontario.
HSBC Securities (Canada) Inc.: Acting for HSBC in a class action brought on behalf of all persons who purchased mutual funds through Canadian discount brokerages. The class action involves allegations related to the charging of trailing commissions.
Kent McParland: Acting for a former corporate director in a class action involving a number of companies alleged to have been involved in a fraudulent securities scheme. The class action involves allegations that companies collectively issued tens of millions of dollars worth of shares to consultants via private placements (sales of shares) while simultaneously entering into contracts for services that were never rendered.
KPMG: Successfully representing KPMG in a hearing before the Ontario Securities Commission.
KPMG: Advising on the Hollinger/Black litigation where KPMG was the auditor of the Hollinger group of companies, which following the revelation of alleged management fraud, has led to multi-jurisdictional litigation and regulatory proceedings.
Reliq Technologies Inc.: Representing the company, and its officers and directors, as lead counsel in a securities class action in the Supreme Court of British Columbia.
Teranet Inc.: Advising in connection with the successful multi-million dollar dissenting shareholder dispute.

Recognition

Insights

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May 1, 2024

Internal investigations present an opportunity for a company to get ahead of and reduce securities, criminal and class action risk. However, there are many ways in which these investigations could be easily mismanaged. Here are five things corporations should be aware of to mitigate risk.

Five things you need to know about internal investigations to mitigate securities litigation risk

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Litigation and Dispute Resolution 2024 Outlook

February 13, 2024

Global financial instability, high inflation, central bank rate hikes and geopolitical uncertainties have significantly impacted the Canadian legal landscape, giving rise to new industry trends and a noticeable increase in litigation cases filed across the country.

View all insights for Securities and Shareholder Litigation in Canada

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