McCarthy Tétrault successfully represented STRACON Group Holding Inc. ("Stracon") in an expedited proceeding before the Capital Markets Tribunal, resulting in the dismissal of a public interest application that sought to halt trading of Stracon's TSX‑listed shares and undermine a planned capital raise.
On January 22, 2026, SLC Holdings Inc. ("SLCH"), a Barbados‑based company, sought leave to commence a public interest proceeding before the OSC, alleging that Stracon had misrepresented to investors that it had completed a cross‑border amalgamation with a Peruvian entity, and asserting that the company was therefore improperly valued at $400 million.
Stracon denied the allegations and challenged SLCH's standing to seek leave, characterizing SLCH as a disgruntled contingent creditor involved in ongoing litigation against Stracon in Peru, rather than a proper public interest applicant.
On February 12, 2026, the Tribunal accepted Stracon's arguments and dismissed SLCH's application, with reasons to follow. The forthcoming decision is expected to provide important guidance on the limits of foreign‑ and non‑shareholder‑initiated public interest claims in Ontario capital markets.
McCarthy Tétrault LLP advised Stracon with a multidisciplinary team led by Shane D'Souza, Chris Puskas, and Mathew Zaia (Litigation) and Shawn Doyle (Business).