V-1.1 - Securities Act

Section 225.10 Disposition versions

2007-11-09

225.10. A person that acquires or disposes of an issuer’s security during the period between the time when an influential person or a mandatary or other representative of the influential person released a document or made a public oral statement relating to the issuer and containing a misrepresentation and the time when the misrepresentation was publicly corrected may bring an action against

(1)  the issuer, if a director or officer of the issuer or the investment fund manager authorized, permitted or acquiesced in the release of the document or the making of the public oral statement;

(2)  the person who made the public oral statement;

(3)  each director and officer of the issuer who authorized, permitted or acquiesced in the release of the document or the making of the public oral statement;

(4)  the influential person and each director and officer of the influential person who authorized, permitted or acquiesced in the release of the document or the making of the public oral statement; and

(5)  each expert whose report, statement or opinion containing the misrepresentation was included, summarized or quoted from in the document or public oral statement and, if the document was released or the public oral statement was made by a person other than the expert, who consented in writing to the use of the report, statement or opinion in the document or public oral statement.

2007, c. 15, s. 11.