Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 16 OCTOBER 2007

Kerr v. Danier Leather Inc., 2007 SCC 44

Gowling WLG
Gowling WLG
Contributor
Gowling WLG

Gowling WLG

The firm The firm’s lawyers speak English, French, Russian and Ukrainian. The firm’s client base...

View firm profile
Explore more from Gowling WLG

Danier made an initial public offering of its shares by way of a prospectus. The prospectus included Danier's actual financial figures for the first three quarters and projected results for the fourth quarter of the fiscal year.

CanadaLitigation, Mediation & Arbitration
Stephen Carter-Edwards
Stephen Carter-Edwards
Author LinkedIn connections

Does The Business Judgment Rule Have Any Application To The Disclosure Requirements Of The Ontario Securities Act?

Danier made an initial public offering of its shares by way of a prospectus.  The prospectus included Danier’s actual financial figures for the first three quarters and projected results for the fourth quarter of the fiscal year.  Before the public offering closed, an internal company analysis indicated that Danier’s fourth quarter results were below its forecast.  Danier did not disclose these fourth quarter results before the offering closed.  A number of individuals brought a class proceeding for prospectus misrepresentation under s. 130(1) of the Ontario Securities Act (the “Act”).  The trial judge found Danier liable for statutory misrepresentation.  He concluded that the prospectus impliedly represented that the forecast was objectively reasonable on the date the prospectus was filed and on the date the public offering closed and that the actual

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

BLG At The SCC – What’s Coming In The Supreme Court’s Fall 2026 Sitting Schedule

The Supreme Court of Canada held its second annual ceremony marking the opening of the judicial year at its temporary home in the West Memorial Building, with Chief Justice highlighting the Court's increased caseload and architectural features. What significant constitutional and legal challenges will the Court address in its fall 2026 session, including cases on firearm regulations, Crown immunity, and vicarious liability?
CanadaLitigation, Mediation & Arbitration
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

Ontario Court Bifurcates Class Action As Practical Approach To Onerous Discovery Demands

An Ontario court granted a motion to bifurcate liability and damages stages in a class action alleging $500 million in hidden fees, finding that extensive documentary production requests were disproportionate and not relevant to determining liability. The decision addresses proportionality concerns in class actions where defendants face onerous discovery demands spanning millions of transactions over a decade.
CanadaLitigation, Mediation & Arbitration
Bennett Jones LLP
Bennett Jones LLP
Article

The Coldcard Exploit: Why Victims May Have Two Routes To Recovery

A five-year-old firmware defect in Coldcard hardware wallets has enabled attackers to systematically drain an estimated $116 million in Bitcoin from over 5,200 victims since July 2026. This unprecedented exploit raises critical questions about manufacturer liability and creates two distinct legal pathways for recovery: blockchain tracing against the perpetrators and potential litigation against Canadian manufacturer Coinkite for product defects that undermined the fundamental security promise of devices mar
CanadaLitigation, Mediation & Arbitration
WeirFoulds LLP
WeirFoulds LLP
Article

Supreme Court Strikes Down Privative Clause: What Democracy Watch v Canada Means For Administrative Decision-makers

The Supreme Court of Canada has unanimously struck down a privative clause in the Conflict of Interest Act that attempted to bar judicial review of the Ethics Commissioner's decisions. The ruling establishes that the Constitution guarantees a minimum of legality review over all administrative decisions, with implications extending to labour relations, workers' compensation, and immigration legislation containing similar clauses.
CanadaLitigation, Mediation & Arbitration
Miller Thomson
Miller Thomson
Article

CBSA Anti-Dumping And Countervailing Duty Investigations: Truck And Bus Tires From China – What Producers, Exporters, And Importers Need To Know

Canada has initiated anti-dumping and countervailing duty investigations into truck and bus tires from China, with preliminary determinations expected by November 30, 2026. Producers, exporters, and importers—including companies from Korea, Japan, and Singapore with Chinese operations—face critical September and October deadlines to submit comprehensive responses or risk significantly higher duty rates.
CanadaInternational Law
Gowling WLG
Gowling WLG
Article

What Is The Hansa? From The Hanseatic League To Modern Cooperation Models

The term "Hansa" has re-emerged in modern geopolitical discourse, most notably through the 2026 Germany-Norway defence cooperation framework. This article examines how the principles of the medieval Hanseatic League—flexible coordination, shared standards, and mutual benefit without centralization—are being adapted to address contemporary challenges in defence, security, and cross-border collaboration.
GlobalInternational Law
Gowling WLG
Gowling WLG
Article

The Warranty Of Good Working Order: New Québec Consumer Protection Regulation Takes Effect October 5, 2026

Starting October 5, 2026, Québec will introduce a new statutory warranty of good working order for consumer goods such as appliances and electronics, with minimum warranty periods ranging from 3 to 6 years. The legislation imposes disclosure obligations on manufacturers and merchants while prohibiting any attempts to exclude or limit this warranty. Businesses operating in Québec must adapt their practices to comply with these consumer protection requirements or face potential compliance issues.
CanadaConsumer Protection
Gowling WLG
Gowling WLG
Article

Peptides In Canada: Regulatory Reality Is Catching Up With The Hype

Health Canada's recent enforcement action against unauthorized injectable peptides signals a regulatory shift that wellness companies cannot afford to ignore. While peptides dominate influencer marketing and online wellness spaces, their legal status in Canada depends on factors far more complex than social media trends suggest. Understanding how route of administration, therapeutic claims, and market authorization intersect is now critical for compliance.
CanadaConsumer Protection
Gowling WLG
Gowling WLG
Article

Canada And The European Union Chart A New Course: Beyond CETA Toward A Strategic Economic Partnership

European Commission President Ursula von der Leyen has invited Canada to become the first associate member of the EU, with Prime Minister Mark Carney accepting the proposal to pursue an "Alliance for the Future." The partnership would build on existing bilateral agreements with Germany, Spain, and Italy, potentially enabling free flow of goods, services, and workers across strategic sectors including energy, critical minerals, artificial intelligence, defence, and advanced manufacturing.
GlobalInternational Law
Gowling WLG
Gowling WLG
Article

Canadian Product Stewardship And EPR: 2026 Summer Update

Canadian governments and producer-responsibility organizations are refining extended producer responsibility programs across the country, affecting packaging, batteries, electronics, and hazardous products. Recent regulatory changes include expanded collection obligations, adjusted compliance timelines, and new enforcement measures, with significant developments in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Atlantic provinces.
CanadaEnvironment
Gowling WLG
Gowling WLG