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When Is A Fraudulent Misrepresentation Claim Discoverable? Ontario s Court Of Appeal Provides Guidance In The Context Of A Securities Class Action - Corporate/Commercial Law

knowingly making the misrepresentations. Under the Limitations Act, 2002, a claim is discovered when the person with the claim first knew or ought to have known that the injury, loss or damage was caused by or contributed to by an act or omission (among certain other criteria). As a claim necessarily involves a legal remedy, the act or omission that must be discovered is one that will give rise to a legal remedy, i.e., a cause of action. Therefore, the Court reasoned, in the case of a fraudulent misrepresentation the act or omission that must have been discovered is a misrepresentation

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