No Material Change in Ambiguity: The SCC’s Decision in Lundin
When is a public company required to disclose new information to the public? The answer to this question is far from clear, and the ambiguity that lies at its core plagues securities lawyers who are tasked with advising clients on corporate disclosures. In light of this ambiguity, the Supreme Court of Canada’s (“SCC”) highly anticipated decision in Lundin Mining Corp v Markowich was expected to provide some clarity to the question of when to disclose information relating to a company’s affairs. This clarity, however, remains elusive.
