Case information
Conduct a refined search of the Supreme Court of Canada database to obtain details on the status of a matter before the Court.
41551
Christopher Candusso v. Ontario Securities Commission
(Ontario) (Civil) (By Leave)
Docket
Judgments on applications for leave to appeal are rendered by the Court, but are not necessarily unanimous.
| Date | Proceeding | Filed By (if applicable) |
|---|---|---|
| 2025-05-16 | Close file on Leave | |
| 2025-05-15 | Copy of formal judgment sent to Registrar of the Court of Appeal and all parties | |
| 2025-05-15 | Judgment on leave sent to the parties | |
| 2025-05-15 |
Judgment of the Court on the application for leave to appeal, The application for leave to appeal from the judgment of the Court of Appeal for Ontario, Number COA-24-OM-0105, dated September 20, 2024, is dismissed with costs. Dismissed, with costs |
|
| 2025-04-14 | All materials on application for leave submitted to the Judges, for consideration by the Court | |
| 2025-01-15 | Lower court order - e-filing, (Letter Form), CA Order, (Printed version due on 2025-01-22) | Christopher Candusso |
| 2024-12-17 | Notice of name, (Letter Form), (Printed version filed on 2024-12-18) | Ontario Securities Commission |
| 2024-12-17 | Certificate (on limitations to public access), (Letter Form), Form 23A, (Printed version filed on 2024-12-18) | Ontario Securities Commission |
| 2024-12-17 | Respondent's response on the application for leave to appeal, (Book Form), Completed on: 2024-12-19, (Printed version filed on 2024-12-18) | Ontario Securities Commission |
| 2024-11-19 | Letter acknowledging receipt of an incomplete application for leave to appeal and without formal Court of Appeal order, File open | |
| 2024-11-18 | Certificate (on limitations to public access), Form 23A, (Printed version filed on 2024-11-18) | Christopher Candusso |
| 2024-11-18 | Application for leave to appeal, (Book Form), Completed on: 2025-01-15, (Printed version filed on 2024-11-19) | Christopher Candusso |
Parties
Please note that in the case of closed files, the “Status” column reflects the status of the parties at the time of the proceedings. For more information about the proceedings and about the dates when the file was open, please consult the docket of the case in question.
Main parties
| Name | Role | Status |
|---|---|---|
| Candusso, Christopher | Applicant | Active |
v.
| Name | Role | Status |
|---|---|---|
| Ontario Securities Commission | Respondent | Active |
Counsel
Party: Candusso, Christopher
Counsel
Alexandra Grishanova
179 John Street, Suite 800
Toronto, Ontario
M5T 1X4
Telephone: (416) 217-0806
Email: acrawley@cmblaw.ca
Party: Ontario Securities Commission
Counsel
Khrystina McMillan
20 Queen St. W.
Toronto, Ontario
M5H 3S8
Telephone: (416) 597-7209
Email: kgustafson@osc.gov.on.ca
Agent
440 Laurier Ave. West
Suite 200
Ottawa, Ontario
K1R 7X6
Telephone: (613) 691-1224
FAX: (613) 691-1338
Email: mdillon@supremelawgroup.ca
Summary
Keywords
Securities – Prohibited conduct – Insider trading – Evidence – Divisional Court confirming tribunal decision finding applicant engaged in insider trading – What is the appropriate framework for drawing inferences from circumstantial evidence in regulatory proceedings, including insider trading cases? – What are the duties of appellate courts on statutory appeals from decisions of administrative tribunals? – Securities Act, R.S.O. 1990, c. S.5, s. 76.
Summary
Case summaries are prepared by the Office of the Registrar of the Supreme Court of Canada (Law Branch). Please note that summaries are not provided to the Judges of the Court. They are placed on the Court file and website for information purposes only.
The staff of the respondent, Ontario Securities Commission (“OSC”), brought a case to the Ontario Capital Markets Tribunal (“tribunal”) alleging that the applicant, Christopher Candusso, was tipped by his roommate with insider information (material non-public information (“MNPI”)) relating to a proposed acquisition of the PokerStars brand by the publicly traded company Amaya Gaming Group Inc. (“Amaya”), and that he subsequently bought Amaya shares based on that tip.
The tribunal relied on the circumstantial evidence presented by the OSC to conclude, on a balance of probabilities, that Mr. Candusso was tipped with MNPI and engaged in insider trading, in breach of the Securities Act. On appeal, the Divisional Court found no reversible errors with respect to the tribunal’s conclusion. It dismissed his appeal. The Ontario Court of Appeal dismissed his motion for leave to appeal.
Lower court rulings
Appeal dismissed
Court of Appeal for Ontario
COA-24-OM-0105
Motion for leave to appeal dismissed
Filed documents
The memorandums of argument on an application for leave to appeal will be posted here 30 days after leave to appeal has been granted unless they contain personal information, information that is subject to a publication ban, or any other information that is not part of the public record. You may also obtain copies of the memorandum by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a memorandum of argument or want to use a memorandum of argument, please contact the author of the memorandum of argument directly. Their name appears at the end of the memorandum of argument. The contact information for counsel is found in the “Counsel” tab of this page.
Downloadable PDFs
Not available
Related links
The factums of the appellant, the respondent and the intervener will be posted here at least 2 weeks before the hearing unless they contain personal information, information that is subject to a publication ban, or any other information that is not part of the public record. You may also obtain copies of factums by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a factum or want permission to use a factum, please contact the author of the factum directly. Their contact information appears on the first page of each factum.
Downloadable PDFs
Not available
Related links
The condensed books of the appellant, the respondent and the intervener will be posted here upon receipt of the electronic version, 2 days prior to the scheduled appeal hearing. You may also obtain copies of condensed books by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a condensed book or want permission to use a condensed book, please contact the author of the condensed book directly. Their contact information appears on the first page of each condensed book.
Downloadable PDFs
Not available