Additional thoughts on Sharma v. Timminco

February 22, 2012

As reported earlier, in Sharma v. Timminco Limited the Court of Appeal for Ontario determined that representative plaintiffs seeking to commence actions under the Ontario Securities Act for misrepresentations by public companies in their secondary market disclosures must obtain judicial leave within three years of the alleged misrepresentations.  Additional commentary on this decision can be found in Stikeman Elliott LLP’s Special Class Actions Bulletin, Court of Appeal Provides Guidance for Securities Class Actions Limitation Periods, written by Alan D’Silva, Daniel Murdoch and Lesley Mercer.   

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