As argued by the plaintiffs in Nor-Dor (at para. 4), ‘[the expiry of a limitation period while the leave motion is pending] cannot have been the intention of the legislature when it enacted this section of the Act”.Last month, plaintiffs in a secondary markets securities class action case involving CIBC and its subprime mortgage exposure were denied certification, even though Ontario Superior Court Justice George Strathy indicated he saw merit in the case.On July 3,… [read post]