Current Trends in Cross-Border Securities Class Actions and Government Enforcement Actions in the US and Canada

East Palo Alto, California
03 April 2014
Hosted By: NERA Economic Consulting

While there has been a large number of US securities class actions filed each year since the US Supreme Court's Basic decision, these types of cases were rare in Canada prior to legislative amendments which came into force at the end of 2005. Since then, there has been a significantly greater number of Canadian securities class actions each year, while securities fraud class actions under the US federal securities laws have been flat over the last five years. For both US and Canadian issuers, this new trend poses significant risks. As well, the Securities and Exchange Commission has been active in recent years in working with its Canadian regulatory counterparts in pursuing securities fraud investigations and proceedings pursuant to cross-border cooperation agreements.

On 3 April 2014, NERA will host a conference focusing on all of these important trends, featuring subject matter experts who are regularly involved in cross-border proceedings. NERA Senior Vice President Dr. Alan Cox will moderate the discussion, which will feature Andrea Laing, Partner at Blake, Cassels & Graydon; Steven Buchholz, Assistant Regional Director, Division of Enforcement, Market Abuse Unit, US Securities and Exchange Commission; Jonathan Dickey, Partner at Gibson, Dunn & Crutcher; and Brad Heys, Vice President at NERA. The discussants will examine recent legal developments and issues in Canada that are important to those advising clients with operations in Canada. They also will address the management of cross-border cases from the perspective of the securities regulators, targets of investigations, and private litigants.

To learn more, please contact Angela McLean at

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