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Securities Regulation - Offences and enforcement - Offences - Materially-misleading or untrue statements

Thursday, September 29, 2016 @ 8:00 PM  

Appeal by Rooney and Leach from an order requiring them to elect whether to sue the offerors under a hostile takeover bid or their respective directors and signatories, and prohibiting security holders who transacted in the secondary market from asserting a claim in the present class action alleging violations of section 131(1) of the Securities Act. Rooney and Leach were security holders of Baffinland Iron Mines Corporation (Baffinland), the target of a hostile takeover bid by a group headed by the respondent Waheed. The takeover bid...