In the letter from the Canadian Bar Association, a footnote indicates what could be a similar case related to the Ontario securities legislation. In that other case, however, the maximum threshold is $1 million, and according to the information we have, that measure has never been invoked.
Before the government introduces the concept of “private sheriffs”, as someone called them I believe, debate is needed on what will happen in terms of this type of potentially strategic litigation. Is the money that goes to the Receiver General for Canada further to a private remedy the incentive that should be given to businesses, or should they instead be entitled to damages? The time must be taken for this type of debate.