Victory for Access to Justice as Supreme Court of Canada Upholds Certification Decision in 'Market Timing' Class Action

3 Pages Posted: 18 Dec 2013  

Suzie Chiodo

Rochon Genova LLP

Date Written: December 16, 2013

Abstract

In a major victory for mutual fund investors, the Supreme Court of Canada has upheld a decision to certify the “market timing” class action (AIC Limited v Fischer). The decision means that securities class actions can proceed even where fines have been imposed or settlements reached in parallel regulatory proceedings by the Ontario Securities Commission (OSC). The decision has significant and positive ramifications for access to justice and has been described as “the most important class action decision this year”.

Keywords: class actions, access to justice, certification, preferability, preferable procedure, securities, investors, mutual funds

Suggested Citation

Chiodo, Suzie, Victory for Access to Justice as Supreme Court of Canada Upholds Certification Decision in 'Market Timing' Class Action (December 16, 2013). Available at SSRN: https://ssrn.com/abstract=2368556 or http://dx.doi.org/10.2139/ssrn.2368556

Suzie Chiodo (Contact Author)

Rochon Genova LLP ( email )

121 Richmond Street West
Suite 900
Toronto, Ontario M5H 2K1
Canada
416-363-1867 (Phone)

HOME PAGE: http://rochongenova.com/team/suzanne_chiodo.aspx

Paper statistics

Downloads
27
Abstract Views
157