V-1.1 - Securities Act

Section 225.24 Disposition versions

2007-11-09

225.24. A defendant, other than an expert, may defeat an action for a misrepresentation in a document or public oral statement that includes, summarizes or quotes from a report, statement or opinion made by the expert, with the expert’s written consent to the use of the report, statement or opinion, if the consent had not been withdrawn in writing before the document was released or the public oral statement was made, by proving that

(1)  the defendant did not know and had no reasonable grounds to believe that there was a misrepresentation in the report, statement or opinion of the expert that was included, summarized or quoted from in the document or public oral statement; and

(2)  that the report, statement or opinion of the expert was fairly represented in the document or public oral statement.

2007, c. 15, s. 11.