The appellant, John Peters, appealed the dismissal of his motion for leave to bring a statutory cause of action under the Securities Act for alleged failure to disclose a material change, and for class action certification.
The alleged material change was a September 4, 2018, telephone call where the PPSC advised SNC-Lavalin that it would not be invited to negotiate a remediation agreement.
The motion judge found no reasonable possibility that the call constituted a "change" in SNC's business, operations, or capital.
SNC-Lavalin cross-appealed the costs order, which reduced their costs due to the case's legal novelty and public interest.
The Court of Appeal dismissed both the appeal, affirming the motion judge's interpretation of "material change" and application of the leave test, and the cross-appeal, upholding the discretionary costs decision.