Ontario Superior Court Conditionally Certifies Securities Class Action Despite No Valid Representative Plaintiff

In the recent decision of Vecchio Longo Consulting Services Inc. v. Aphria Inc.¹, Justice Perell of the Ontario Superior Court of Justice certified a class action against the cannabis company Aphria Inc. (Aphria), certain of its directors and officers, and a group of investment banks which underwrote one of Aphria's offerings. In the reasons, Justice Perell seeks to clarify the law surrounding certain issues related to representative plaintiffs in Ontario class actions and provide a model for how representative plaintiff issues may be resolved by Ontario courts in the future.

What you need to know

• This class action relates to alleged misrepresentations made by Aphria including in a prospectus released in connection with an offering of Aphria shares.