Clean Sweep: B.C. Supreme Court Dismisses Secondary Market Claims on Multiple Grounds

On April 16, 2026, in Larouche v. PGM ResidualCo Holdings Inc., the British Columbia Supreme Court (Court) denied leave to commence secondary market claims under the B.C. Securities Act (Act) in a proposed class action alleging misrepresentations in public disclosure documents by a public issuer. The Court found that the petitioner failed to meet the statutory leave requirements in section 140.8 of the Act on multiple independent grounds, including insufficient pleadings, fundamental evidentiary... By: Blake, Cassels & Graydon LLP