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ARTICLE · 14 NOVEMBER 2011

B.C. Court Dismisses Application For Leave To Commence Secondary Market Liability Class Action

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On October 21, 2011, the Supreme Court of British Columbia (the Court) released a decision in Round v. MacDonald, Dettwiler and Associates Ltd., dismissing the application of an intended plaintiff seeking leave of the Court to commence an action based on a secondary market liability claim.

CanadaLitigation, Mediation & Arbitration
James Sullivan
James Sullivan
Sean Boyle
Sean Boyle
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Copyright 2011, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Litigation & Dispute Resolution, November 2011

On October 21, 2011, the Supreme Court of British Columbia (the Court) released a decision in Round v. MacDonald, Dettwiler and Associates Ltd., dismissing the application of an intended plaintiff seeking leave of the Court to commence an action based on a secondary market liability claim. This was the first case in British Columbia to examine the test for leave pursuant to the statutory cause of action found in Part 16.1 of the British Columbia Securities Act, R.S.B.C. 1996, c. 418 (the Act).

The intended plaintiff, Ms. Round, received her common shares of MacDonald, Dettwiler and Associates Ltd. (MDA) from the company's treasury under an Employee Share Purchase Plan. She argued that the intended defendant, MDA, misrepresented material facts and failed to make timely disclosure of material changes that affected the price of her

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