V-1.1 - Securities Act

Section 225.9 Disposition versions

2007-11-09

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

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

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

(3)  each influential person, and each director and officer of an influential person, who knowingly influenced the person who made the public oral statement to make the public oral statement or a director or officer of the issuer to authorize, permit or acquiesce in the making of the public oral statement; and

(4)  each expert whose report, statement or opinion containing the misrepresentation was included, summarized or quoted from in the public oral statement and, if 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 public oral statement.

2007, c. 15, s. 11.