Cassels Brock Successfully Represents Stetson Oil & Gas Ltd. In Claim Against Thomas Weisel Partners for Incomplete Bought Deal
TORONTO, March 4, 2013 /CNW/ - Stetson Oil & Gas Ltd, represented by a litigation team at Cassels Brock & Blackwell LLP, has received the decision of the Ontario Superior Court of Justice (Commercial List) stating that Thomas Weisel Partners Canada Inc. breached its bought deal engagement letter with Stetson dated July 13, 2008, and awarding full damages of $16,042,669 plus interest and costs.
A copy of the decision has been posted by Stetson under its profile on SEDAR at www.sedar.com.
"This decision confirms and clarifies the underwriter's obligations in a bought deal transaction and will have a significant impact on the way both issuers and underwriters approach future bought deal financings in Canada, " notes Lara Jackson, a securities litigation partner at Cassels Brock and one of the lead lawyers on the Stetson team.
Lara Jackson is available for media interviews.
About Cassels Brock
Cassels Brock & Blackwell LLP is a leading Canadian law firm focused on serving the transaction, advocacy and advisory needs of Canada's most dynamic business sectors. The firm is regularly named at or near the top of Canadian and international corporate finance and M&A league tables, including Bloomberg, Thomson and MergerMarket, particularly in the natural resources sector, having acted on more than 500 significant deals over the past five years, including many of the country's largest and most complex.
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