Forecasts, predictions and opinions about the future should not be treated in the same
way as hard information is treated under the Securities Act. Because this type of soft
information cannot be verified in advance, the imposition of liability in respect of these statements about the future may hinder their production and have a result that is adverse to the interests of investors – who would prefer to hear management speak candidly about its thoughts on the company’s future performance. This essay examines the way in which the Ontario Securities Act treats statements about the future, as well as the most important decision in this area up to the present: Kerr v. Danier Leather. It will also discuss whether there should be a duty to update predictions when the circumstances that formed the basis of these forecasts have changed significantly.
| Identifer | oai:union.ndltd.org:TORONTO/oai:tspace.library.utoronto.ca:1807/25827 |
| Date | 11 January 2011 |
| Creators | Trindade Pereira, Diego |
| Contributors | Iacobucci, Edward |
| Source Sets | University of Toronto |
| Language | en_ca |
| Detected Language | English |
| Type | Thesis |
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