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Appeal Court decision aligns Quebec securities rules with other provinces

Wednesday, February 14, 2018 @ 10:31 AM | By Luis Millan

The Quebec Court of Appeal eliminated a tactical advantage that could have emerged by launching national class actions in secondary market misrepresentation cases in the province after it held that Quebec securities rules were designed to be harmonized with securities legislation across the country as a matter of substantive law.

In a closely watched decision by class action and securities experts, the court overturned a lower court ruling and found that parties seeking leave to launch an action for secondary market misrepresentations under the Quebec Securities...