Supreme Court Of Canada Refuses To Hear Global Auditor Class Action Certification Appeal

On June 8, 2017, the Supreme Court of Canada denied leave to appeal from a decision of the Ontario Court of Appeal in Excalibur Special Opportunities LP v. Schwartz Levitsky Feldman LLP that certified an Ontario class action against a Canadian auditor involved in an American private placement of shares and warrants issued primarily to American investors. In refusing to hear a further appeal, despite a strongly worded dissent from Justice Robert Blair, Canada's highest court has declined to opine on a decision that arguably sets a high water mark for when Ontario courts will take jurisdiction over a class action that has minimal contacts with Ontario and purports to bind mainly foreign plaintiffs.