Securities Litigation
In high-stakes securities disputes, the greatest risk is a narrow defence. Stockwoods provides a decisive advantage by leveraging a rare cross-disciplinary mastery of commercial, administrative, and quasi-criminal law.
Whether defending a class action, facing regulatory enforcement, or navigating a contested takeover, our clients benefit from the perspective of lawyers who have sat on every side of the table—including acting for the regulators themselves.
By integrating elite commercial litigation with a formidable white-collar defence practice, we see the whole picture. From the boardroom to the courtroom, we provide the forceful advocacy required to shut down threats and secure the best possible outcome.
Practice Areas
Internal investigations
Oppression claims
OSC enforcement (including JSOT)
Proxy fights
RCMP IMET matters
Securities class actions
Shareholder disputes
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Representative Work
CannTrust Holdings Inc.: Successfully defended the former Chair and CEO of CannTrust in a high-profile quasi-criminal prosecution brought by the OSC and RCMP (Joint Serious Offences Team) alleging misrepresentation and fraud. Secured a full acquittal on all charges. This is in addition to our representation of the client in the related class action and CCAA proceedings.
Canada Cannabis Corporation (Re): Stockwoods acted as a “special advocate” before the Capital Markets Tribunal in a closed proceeding dealing with allegations of fraud under the Securities Act. The case resulted in an exceptionally rare abuse of process stay—essentially a “permanent stop” to the prosecution.
Coventree Capital: Acted for the former CEO in complex OSC proceedings regarding the firm’s role in the multi-billion dollar Asset-Backed Commercial Paper (ABCP) market collapse.
Proxy battle: Represented a reporting issuer, FSD Pharma Inc., in a high-stakes, public fight for control of the company against dissident shareholders (a group which included the largest shareholder of the company).
FSD Pharma Inc.: Represented a licensed cannabis producer in defending a shareholder misrepresentation class action brought under Part XXIII.1 of the Ontario Securities Act.
Timminco Limited: Successfully represented an expert consulting firm in a secondary market class proceeding. The action was ultimately dismissed against our client. This was a precedent-setting decision regarding the test for nunc pro tunc relief in securities class actions.
Historical Track Record: Over the past 20 years, Stockwoods has consistently been retained in the most significant securities law cases. These include the following significant securities law cases: Re Agueci et al, Re Coventree, Re YBM Magnex, Re Yorkton Securities, and Re Biovail.
OSC Enforcement Defence: Regularly represent corporations and senior executives in Section 11 investigations, including compelled examinations and contested hearings involving insider trading, market manipulation, and disclosure failures.
Ontario Securities Commission: Uniquely positioned as a firm that both defends against and acts for the regulator, Stockwoods has also represented OSC Staff in complex enforcement prosecutions and appeals, including cases against Paramount Equity Financial Corporation and Northern Securities Inc.
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Recognition
Chambers Canada, Litigation – Securities, Band 3 (Stockwoods)
Chambers Canada, Litigation – Securities, Band 1 (Paul Le Vay)
Chambers Canada, Litigation – Securities, Up and Coming (Carlo Di Carlo)
Lexpert, Litigation – Securities, “Most Frequently Recommended” (Paul Le Vay)
Lexpert, Litigation – Securities, “Consistently Recommended” (Carlo Di Carlo)
Benchmark Litigation, Securities (Paul Le Vay, Carlo Di Carlo)
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