The Supreme Court of Canada released its decision in the Kerr v. Danier Leather Inc. case on October 12, 2007. This decision has been eagerly anticipated due to its importance for the Canadian capital markets, in the wake of the Ontario Court of Appeal’s decision to overturn the significant class action trial judgment awarded to investors for an alleged prospectus misrepresentation. In unanimously dismissing the appeal by the investors from the Ontario Court of Appeal decision, the Supreme Court of Canada, in a rare securities law decision, has now finally concluded the Danier saga, which has run for more than nine years.

type Material Change Report - October 2007