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ARTICLE · 01 FEBRUARY 2018

Court Raises The Discoverability Bar For Private Attorneys General

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Plaintiffs' counsel in civil Competition Act class actions often view themselves (and sometimes even refer to themselves) as ‘private attorneys general' pursuing those whose conduct distorts the economic landscape.

CanadaLitigation, Mediation & Arbitration
Angus T. McKinnon
Angus T. McKinnon
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Plaintiffs' counsel in civil Competition Act class actions often view themselves (and sometimes even refer to themselves) as 'private attorneys general' pursuing those whose conduct distorts the economic landscape. In what is certain to be seen as a controversial ruling, Justice Perell of the Ontario Superior Court has reminded plaintiffs' counsel that if they want to fulfill the role of a private attorney general, then they must act like one.1 The decision arises in the context of the massive ongoing futures exchange market ("FX Market") price fixing class action.

In June 2013, a report was published by Bloomberg News alleging that a group of currency traders had been front-running their clients' orders and rigging the foreign exchange benchmark rates. Regulatory investigations in the US, UK and EU were immediately launched and class action lawsuits followed. The Canadian class action was commenced in September 2015. Sixteen groups of financial institutions were

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