Laura  Fric

Laura Fric, Partner, Litigation

Contact Information

  • tel: 416.862.5899
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Bar Admission

Ontario, 1995

Education

  • University of Toronto, LL.B.
  • University of Western Ontario, B.A.

Office

Toronto

Language(s)

English

Biography

Laura has extensive advocacy experience, specializing in securities litigation and defending class actions.

Laura was recognized in The Best Lawyers in Canada 2015 (Class Action Litigation), Benchmark Canada 2014 (Future Star: Class Action, Commercial, Securities) and The Canadian Legal Lexpert Directory 2014. Laura is the Co-Chair of the Advocates’ Society Commercial Law Practice Group.

Laura has litigated major class actions for many companies, including in the areas of securities and secondary market misrepresentation claims, product liability, environmental damage, and employment matters such as post-retirement benefits and overtime pay. Her cases include acting as counsel in a large class action trial and on appeal, and acting as counsel in expedited hearings before the Ontario Securities Commission. Laura also advises clients in investigations and regulatory matters.

Laura has spoken at a variety of conferences and written extensively on class action and securities litigation. Laura won the Treasurer’s Medal for highest marks in the Ontario Bar admission course, and clerked for the judges of the Court of Appeal for Ontario. At the start of her career, Laura worked at a prominent criminal defence firm.

Laura is the Chair of Osler’s legal professional committee, which manages the careers and progression of associates and other professionals.

Notable Matters

  • BP plc defending a proposed securities class action commenced in Ontario arising from the 2010 Deepwater Horizon accident and subsequent Gulf of Mexico oil spill. In August 2014, the Ontario Court of Appeal agreed that the claims of Canadians who purchased BP securities over the New York Stock Exchange and London Stock Exchange could not proceed in Ontario.
  • Vale (Inco) defending a complex class action trial involving claims of environmental property damage, and successfully arguing on appeal to the Ontario Court of Appeal (leave to appeal to the Supreme Court of Canada was denied). Prior to the trial, Laura argued many pre-certification and post-certification motions.
  • General Motors of Canada Limited in certified class actions brought on behalf of former employees, in cases involving pension and post-retirement benefits.
  • Mylan Pharmaceuticals ULC and other companies in proposed product liability claims and class actions, in various jurisdictions in Canada.
  •  Royal Trust (RBC) in a successful summary judgment motion dismissing a large claim arising from the interpretation of a purchase agreement for a business.
  • Sino-Forest Corporation. Counsel for members of the Independent Committee of the Board of Directors, in a proposed securities class-action, where the court held that the defendants did not have to deliver a statement of defence to a secondary market claim under the Ontario Securities Act.
  • TD Bank in pre-certification, certification and settlement stages of a large class action involving historic foreign exchange transactions on credit cards.
  • Toronto Stock Exchange (TSX) in an appeal to the Ontario Securities Commission (OSC) from a decision of the TSX involving Fibrek Inc.
  • Groupon Inc. in a Canadian class proceeding involving the expiry dates on Groupon vouchers, including on the settlement approval hearing.
  • Various companies in giving advice on possible employment-related class actions, including regarding allegations of non-payment of overtime pay and implementing redress claim processes.
  • Magna International Inc. securing court approval of the plan of arrangement for the company’s dual-class share capital reorganization, in the face of concerted opposition from some institutional shareholders. The approval granted by the Ontario Superior Court of Justice was confirmed on appeal.  Also acting in the related proceedings before the Ontario Securities Commission, initiated by Staff of the OSC and intervening institutional shareholders.
  • OMERS Realty Corporation defeating an application to commence a derivative action in the name of the company.
  • Magna Entertainment Corporation in proceedings before the OSC brought by shareholders of a company who sought a vote of minority shareholders to approve certain transactions.
  • Ventas, Inc. in its successful application for a declaration that Sunrise REIT was obligated under the purchase agreement between the parties to enforce the standstill terms of Sunrise REIT’s confidentiality agreement with a participant in its prior auction process. The decision of the Ontario Superior Court was upheld by the Court of Appeal for Ontario.
  • Glamis Gold Ltd. in defeating the attempt by a shareholder of Goldcorp Inc. to force a vote of the shareholders of Goldcorp to approve the acquisition of Glamis by Goldcorp. The decision of the Ontario Superior Court was upheld by the Ontario Divisional Court.

Affiliations

  • ABA Member, Litigation Section
  • Advocates’ Society 

Industry Recognition

  • The Best Lawyers in Canada 2015: Class Action Litigation
  • Benchmark Litigation Canada 2014 (Future Star): Class Action; General Commercial; Securities
  • The Canadian Legal Lexpert Directory 2014: Repeatedly Recommended for Securities Litigation
  • Lexpert Rising Star (2006)

Publications/Events/Education

  • Chapter “Employment Class Actions” with L. Sokolov in text “New Perspectives on Canadian Employment Law”, LexisNexis, 2014.
  • Quoted in Court of Appeal denies certification in CIBC overtime class action, Canadian Lawyer, Oct 7, 2014
  • Quoted in Disabled Mountie veterans win $70 million settlement, The Lawyers Weekly Aug 29, 2014
  • Quoted in Class action battles to shift to trial court from motions hearings, Drew Hasselback, Legal Post, Nov 28, 2012.
  • Quoted in Charity lawsuit has implications for class actions, Drew Hasselback, Financial Post, Nov 7, 2012 (with Kevin O’Brien and Karin Sachar).
  • Quoted in Osler’s take on the Look Communications ruling, Barry Critchley, Financial Post, Oct 12, 2012 (with Douglas Bryce and Karin Sachar).
  • Quoted in Confidentiality agreements can make or break a deal; Mum's the word, Derek Sankey, Financial Post, Sept 2012.
  • Quoted in Leo Strine gives confidentiality agreements a firm foundation, Drew Hasselback, Financial Post, May 2012 (with Emmanuel Pressman and Jeremy Fraiberg).
  • Quoted in Overtime Class Cases Still Maturing, Drew Hasselback, Financial Post, May 2, 2012.