Potential Class Action Exposure In Canada In The Wake Of COVID-19

Canadian companies are facing sweeping and unprecedented challenges in the wake of the COVID-19 pandemic. Companies also face a risk of class actions being filed arising from a company's response to COVID-19. In the United States, several class actions have already been filed in relation to companies' responses to COVID-19:

• Securities class actions alleging that companies made false and misleading statements in the wake of the outbreak of COVID-19, for example:
• • A class action complaint against Norwegian Cruise Lines for violations of federal securities laws, alleging that Norwegian reported positive outlooks for the Company despite the "current known impact from the COVID-19 coronavirus outbreak", and pressured its sales team to mislead potential customers about COVID-19 in order to entice customers to purchase cruises; and