May 29, 2018. Morganti & Co teamed up Faguy & Cie (Montreal) to advance a shareholders’ claims against Volkswagen Aktiengesellschaft (“VWAG”). The claim alleges, see the VWAG’s guilty plea filed in the U.S. Federal District Court for the Eastern District of Michigan, that VWAG engaged in a global fraud concerning certain of its diesel engines…Read More
MAY 1, 2018. Albert Pelletier has joined Morganti & Co., P.C. as a principal. Albert has over two decades of professional experience between the Canadian securities industry and practice of law. He has worked as an Investment Advisor at Nesbitt Burns while in business school and graduated with distinction from McGill University Law School with…Read More
IF A COMPANY HIDES FRAUD FOR MORE THAN THREE YEARS IT IS REWARDED: WHY ARE INVESTORS BEING PUNISHED?
APRIL 5, 2018. The Ontario Court of Appeal upheld a lower court’s decision that under absolutely no circumstance can an Ontario statutory claim for secondary market liability exceed three years in length. Yes, really. In Kaynes v. BP PLC, 2018 ONCA 337, the investor alleged that BP PLC released documents containing misrepresentation about omitting material…Read More
U.S. SUPREME COURT: U.S. FEDERAL COURTS DO NOT HAVE EXCLUSIVE JURISDICTION OVER CERTAIN SECURITIES CLAIMS
March 20, 2018. One of the common arguments advanced by corporate defendants in shareholder litigation in provincial courts has been that the Canadian courts should not exercise their jurisdiction to adjudicate investors’ claims if the securities were purchased on the Nasdaq or NYSE. Often these lawyers will make submissions that Canadian courts should abstain from…Read More
FRAUDSTERS BEWARE: THE ONTARIO SECURITIES COMMISSION WILL SCRUTINIZE WHETHER THE DEFENDANT ADMITS TO ENGAGING IN WRONGFUL CONDUCT IN FOREIGN PROCEEDINGS.
On February 28, 2018, the Commissioner of the Ontario Securities Commission refused to rubber-stamp a settlement from a former chairman, chief executive officer, and president of a publicly traded company, MDC Partners, Inc. The allegations against the former executive were that he improperly received over $10 million for personal expenses and failed to disclose these…Read More
February 6, 2018. Quebec-based investors, represented by Morganti & Co. and Faguy & Co., made submissions to the court to exercise jurisdiction and certify the investor fraud claims against Volkswagen AG. The investors are seeking to represent other similarly situated investors that purchased Volkswagen AG’s securities on European and U.S. stock exchanges on the basis…Read More
January 29, 2018. The Firm was approached investors in a private placement offered by a small Toronto-based company. They allege that they were mislead as to management’s intention to co-invest and how the funds were going to be used. Among the claims that were certified, the investors are seeking the return of their capital plus…Read More
January 2, 2018. Morganti & Co., P.C. has announced that it has increased first year associate base-salaries to $100,000, and has adopted a five-year track to become a principal at the Firm. Eli Karp, the Firm’s newly elected principal and director, adds that the new compensation structure reflects a continued and thorough commitment to recruiting…Read More
Morganti & Co., P.C. secures ruling that protects Canadian investors that purchase securities on foreign stock exchanges
December 20, 2017. In Paniccia v. MDC Partners, Inc., et al, 2017 ONSC 7298, the Ontario Superior Court dismissed the defendants’ attempt to restrict the investor class to investors that purchased the shares domestically on the Toronto Stock Exchange. Justice Perell agreed with the investors, and in doing so found the defendants’ expert Professor John…Read More