Goodmans lawyers score major victory in landmark Supreme Court of Canada ruling on shareholder class actions in Kerr v. Danier Leather
On October 12, 2007, in a unanimous decision, the Supreme Court of Canada upheld the dismissal of a shareholder class action against Danier Leather and two of its Senior Officers, holding that there had been no violation of securities laws in Danier's 1998 Initial Public Offering. The Supreme Court also held that the class action representative plaintiff must pay costs to Danier and its Senior Officers as reimbursement toward the expense of the 44 day trial, 5 day appeal in the Ontario Court of Appeal and the appeal to the Supreme Court of Canada.
Goodmans' litigator Ben Zarnett represented Danier's senior officers at the trial and on the appeals and led the successful defence arguments at both the Court of Appeal and Supreme Court.
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