(June 17, 2020) Today the Court of Appeal for Ontario (MacPerson, Pardu and Huscroft JJ.) released an Endorsement affirming the Divisional Court’s decision, dated January 6, 2020, concerning the responsibilities of investment banks and certifying that offering memoranda and prospectuses contain accurate information, to the best of their knowledge. Today’s decision affirms the reversal the…
Read More(February 14, 2020) Morganti & Co. has been retained by multiple investors that held shares of Newstrike Brands Ltd. (“Newstrike”) to advance a statutory and the related common law claim against HEXO Corp. The claim alleges that HEXO Corp. induced Newstrike investors to rely upon misrepresentations about HEXO Corp.’s Quebec Supply Agreement in making the…
Read More(January 27, 2020) The law firms of Faguy & Co. Inc. (Montreal), and Morganti & Co., P.C. (Toronto), on behalf of investors that purchased The Stars Group Inc. (TSX: “TSGI”) (formerly known as Amaya Gaming) securities are pleased to announce that the previously announced settlement between TSGI and shareholders has received conditional approval from the…
Read More(January 6, 2020) Ontario’s Divisional Court (Backhouse, D.L. Corbett, and Myers JJ.) released an important decision concerning the role of class proceeding claims in providing access to justice for investors against investment banks. Today’s decision reverses the motion court’s October 24, 2017 decision declining to certify a common law claim against underwriters Cormark Securities Inc….
Read More(JANUARY 1, 2020) Sajjad Nematollahi has joined Morganti & Co., P.C. as a principal. Sajjad has close to a decade of professional experience representing investors in shareholder litigation. He earned legal degrees from Harvard Law School (LL.M., 2010) and McGill University, Faculty of Law (LL.M., 2009). Sajjad previously practiced law at Siskinds LLP.
Read More(December 17, 2019) The law firms of Faguy & Co. Inc. (Montreal), and Morganti & Co., P.C. (Toronto), on behalf of investors that purchased The Stars Group Inc. (TSX: “TSGI”) (formerly known as Amaya Gaming) securities are pleased to announce that they have reached a settlement for CDN $30 million to resolve the claims against…
Read More(October 3, 2019). None of us enjoy getting kicked in the face from an investment gone bad. It hurts more when the investment goes bad when the company’s share price drops from an announcement admitting that before you made the investment it was already being investigated for accounting irregularities. What about when Canadian courts, supported…
Read More(July 25, 2019). Morganti & Co. is pleased to announce that, on behalf of Canadian and German investors, it has reached a settlement valued at CAD $2.8 million with Namaste Technologies, Inc. to resolve claims that it released investor documents omitting material facts about its divesture of “Dollinger Enterprises US, Inc.”, between November 29, 2017…
Read More(June 24, 2019). The Court of Queen’s Bench of Alberta has released its first decision relating to shareholders’ burden to seek “leave to proceed” with a statutory secondary market (a/k/a, open market purchase) claim against a responsible issuer. The decision is identified as Stevens v. Ithaca Energy Inc., 2019 ABQB 474. Ithaca Energy had listed…
Read More(April 8, 2019). In LBP Holdings Ltd. v. Hycroft Mining Corp., 2017 ONSC 6342, the Ontario Superior Court of Justice (Justice Perell) declined to certify a negligence misrepresentation class action claim against the underwriters of Hycroft Mining Corp.’s (“Hycroft”) secondary offering. The Plaintiff alleged that the prospectus associated with Hycroft’s secondary offering contained misrepresentations (by…
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