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V-1.1 - Securities Act

Section 225.31
Disposition versions

Full text
225.31. The court determines each defendant’s responsibility for the damages assessed and orders each defendant to pay that portion of those damages that corresponds to the defendant’s responsibility.
However, if the court determines that a particular defendant, other than the issuer, authorized, permitted or acquiesced in the release of the document or making of the public oral statement containing the misrepresentation, or the failure to make timely disclosure, while knowing it to be a misrepresentation or a failure to make timely disclosure, it may order that defendant to pay the whole amount of the damages.
If two or more defendants are so determined to be responsible for all the damages assessed, they are solidarily liable for the whole amount of the damages.
2007, c. 15, s. 11.
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