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Trends in Canadian Securities Class Actions: 2018 Update
13 February 2019
Bradley A. Heys and Robert Patton
Director Bradley A. Heys and Associate Director Robert Patton have released their annual report, “Trends in Canadian Securities Class Actions: 2018 Update.” The report uses NERA’s proprietary database of information on Canadian securities class actions to analyze trends in filings and resolutions. The authors’ findings include the following:
- Eight new securities class actions were filed in Canada during 2018, one more than in 2017, and one fewer than in 2016.
- Six of the eight new filings are shareholder class actions involving companies with shares listed on a public stock exchange, five of which include claims pursuant to the statutory secondary market civil liability provisions of the provincial securities acts (i.e., “Statutory Secondary Market” cases).
- A sixth Statutory Secondary Market case involves claims brought against the manager of an exchange-traded fund (ETF).
- 2018 also witnessed a jump in Health Technology and Services cases, and eight settlements with an average settlement value of $21.7 million.
The full report contains further analysis and explanation. The authors invite interested readers or those seeking more information to contact them directly.