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ARTICLE · 30 SEPTEMBER 2025

What Longair v. Akumin Means For Issuers: Disclosure, Market Efficiency And Liability Risks

The recent Ontario Court of Appeal decision in Terry Longair Professional Corporation v. Akumin Inc. (Longair) offers important clarifications for issuers and legal practitioners...

CanadaLitigation, Mediation & Arbitration

The recent Ontario Court of Appeal decision in Terry Longair Professional Corporation v. Akumin Inc. (Longair) offers important clarifications for issuers and legal practitioners involved in secondary market misrepresentation claims and the certification of common law negligence claims. The Court of Appeal dismissed an appeal from an order granting leave to proceed with a claim under s. 138.3(1) of the Securities Act (the Leave Order) and an order certifying various claims, including secondary market misrepresentation, primary market misrepresentation under s. 130.1 and common law negligence (the Certification Order).

Some of our insights on secondary market liability can be found here: Secondary market liability: Lessons for mining issuers arising from the first merits decision in Canada and Secondary market liability: Holding experts and mining executives accountable.

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