Osler represents BP p.l.c. ("BP") in a securities class action arising from the 2010 Deepwater Horizon explosion. The claim alleges that misrepresentations were made to Canadian investors prior to and following the explosion. The Ontario Court of Appeal has twice addressed this case in precedent-setting decisions involving issues of jurisdiction and the forum for securities class actions. In September 2017, BP successfully struck the majority of the claims and substantially narrowed the proposed class, as time-barred by the limitations period under Part XXIII.1 of the Ontario Securities Act. The plaintiff has appealed to the Court of Appeal for Ontario.
Osler, Hoskin & Harcourt represent BP with a team consisting of Larry Lowenstein, Laura Fric, Kevin O’Brien, and Karin Sachar (Litigation).