In Chandler, the Court of Appeal confirmed the dismissal of the class action instituted by the shareholders of Volkswagen relating to the emissions scandal.
The Court concluded that Article 236.1 of the Québec Securities Act does not find application since the securities in question were traded outside of Québec and, moreover, that the Québec courts do not have jurisdiction to hear this matter in the absence of a substantial and real link for the whole group. This judgment will have major repercussions on the applicability of the Québec Securities Act for foreign issuers and it brings welcome clarifications to the international jurisdiction of Québec authorities in class action matters.
The defendants were represented by lawyers from BLG's Class Action team.
- Consult the decision (2022 QCCA 272)
- Consult BLG's case comment (June 2022)