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ARTICLE · 20 MARCH 2026

Trends In Canadian Securities Class Actions: 2025 Update

NERA
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Senior Managing Director Bradley Heys, Managing Director Robert Patton, and Consultant Jielei Mao have released their annual report reviewing securities class actions in Canada.

CanadaLitigation, Mediation & Arbitration
Bradley Heys
Bradley Heys
Robert Patton
Robert Patton
Jielei Mao
Jielei Mao
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Senior Managing Director Bradley Heys, Managing Director Robert Patton, and Consultant Jielei Mao have released their annual report reviewing securities class actions in Canada. "Trends in Canadian Securities Class Actions: 2025 Update" contains analysis based on NERA's proprietary database of information on securities class actions in Canada. The report covers trends in the past year's filings and considerations for 2026.

Highlights from the report include:

  • 2025 marks 20 years since the introduction of the Securities Act provisions for civil liability in respect of an issuer's continuous disclosure obligations. In that time, there have been 154 Statutory Secondary Market cases filed in Canada, an average of about eight filings per year.

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