The OSC released its decision in the AiT/Weinstein case on January 14, 2008. This decision has been eagerly anticipated due to its potential impact on dis- closure decisions required to be made by public corporations in Canada. In unanimously dismissing the allegations against an AiT director, Deborah Weinstein, the OSC indicated that there is no bright-line test in determining whether a material change has occurred requiring public disclosure. Instead, the assessment of whether a material change has taken place depends on the specific facts and circumstances of each case, and will vary from case to case. The OSC does provide useful guidance, however, on how this assessment should be made.

type The Material Change Report - February 2008 - Ontario Securities Commission Decision in AiT Advanced Information Technologies Corporation/Weinstein Case