The Class Proceedings Act is no longer a teenager. It turns 20 in early 2013. As a 20 year old, we can now expect more of it than we did when it was a teenager. Teenagers are less predictable. They are usually still growing. Those in their 20s are a little more reliable though. But they still have growing pains.

Last March, Ontario Superior Court Justice Paul Perell granted an order declaring that the limitation period associated with the secondary market claim for misrepresentation provided by the Ontario Securities Act could be suspended pursuant to s. 28(1) of the Class Proceedings Act once this cause of action was pleaded. This decision was overturned last month when the Court of Appeal ruled that the tolling provision of the CPA will not be triggered for secondary market claims until leave is granted under section 138.8 of the Securities Act.

Last May, Ontario Superior Court Justice Paul Perell certified a class proceeding under the Class Proceedings Act on the condition that the representative plaintiffs plead a fresh as amended statement of claim with revisions to the proposed class definition and proposed common issues. This decision was overturned by the Divisional Court on the basis that the defendant would be denied an opportunity to make submissions in respect of the amended statement of claim.