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Appeals from Capital Markets Tribunal decisions on insider trading and tipping dismissed; sanctions upheld.
The appellants appealed decisions of the Capital Markets Tribunal finding they engaged in illegal insider trading and tipping regarding Amaya Gaming Group Inc.'s acquisition of PokerStars, and imposing sanctions including market bans and administrative penalties.
The appellants argued the Tribunal erred in relying on circumstantial evidence, misapplying the law on similar fact evidence, and imposing punitive sanctions.
The Divisional Court dismissed the appeals, finding no palpable and overriding errors in the Tribunal's factual findings or inferences, and holding that the sanctions were protective and within the Tribunal's wide discretion.
Interim injunction granted to enforce shareholder standstill agreement pending arbitration; anti-SLAPP motion dismissed.
The applicant company sought an interim and interlocutory injunction to enforce a standstill agreement against its founder and largest shareholder, pending arbitration.
The respondent had issued a press release calling for the replacement of the board of directors, which the applicant argued breached the negative covenants in the agreement.
The respondent brought a cross-motion to dismiss the application under the anti-SLAPP provisions of the Courts of Justice Act.
The court granted the injunction, finding a serious issue to be tried regarding the breach of negative covenants, irreparable harm to the company's goodwill, and a balance of convenience favoring the applicant.
The anti-SLAPP motion was dismissed because the application had substantial merit and the public interest in enforcing commercial contracts outweighed the protection of the expression.
