She concluded that although it's important to encourage experienced counsel to take on meritorious cases that are tough — especially
because shareholder class actions are a newly developing area of law in Canada — in this case, the risks were not as great as counsel contended.
In February, the SCC granted an application for leave to appeal filed by Theratechnologies Inc. and two of its administrators in a securities
class action filed by a
shareholder who lost money
because of the issuer's alleged omission to properly inform its
shareholders of a material change in the issuer's operations.