Profile

John M. Picone

John M. Picone

jpicone@casselsbrock.com
Telephone: 416 640 6041
Fax: 416 360 8877

Toronto
Suite 2100, Scotia Plaza
40 King Street West
Toronto, ON M5H 3C2
Canada

Download vCard

John Picone is a partner in our Litigation Group. His practice focuses on complex securities, corporate, and commercial litigation, with an emphasis on shareholder disputes, oppression claims, class actions, and regulatory investigations. John takes a strategic, analytical, and practical approach to complicated disputes, while focusing on business needs and the big picture.  

John has extensive experience representing public and private corporations, directors and senior management, and shareholders in the financial services, pharmaceutical, construction and infrastructure, and mining sectors.  He has appeared as counsel before the Supreme Court of Canada, the Court of Appeal for Ontario, the Ontario Superior Court of Justice, the Ontario Securities Commission, and other commissions and tribunals.

Representative Work

John has recently acted for the following clients:

  • The Chief Executive Officer of a TSX-listed issuer in regulatory proceedings before the Ontario Securities Commission
  • Allied Nevada Gold Corporation, and its officers and directors, in a securities class action before the Ontario Superior Court of Justice alleging misleading and inaccurate financial, operational and technical disclosure
  • North Halton Golf and Country Club Limited in a securities class action before the Ontario Superior Court of Justice alleging disclosure violations and oppression in respect of a capital restructuring transaction
  • The Toronto Stock Exchange in review proceedings before the Ontario Securities Commission
  • Trexs Investments, LLC, a significant shareholder of Eco Oro Minerals Corp., in an appeal before the Ontario Securities Commission relating to a contested issuance of securities pursuant to a financing agreement
  • Managers of an offshore investment fund in proceedings before the Court of Appeal for Ontario and the Ontario Superior Court of Justice relating to the enforceability of a forum selection clause in a subscription agreement 
  • A national retail pharmacy chain in proceedings before the Court of Appeal for Ontario and the Ontario Superior Court of Justice (Commercial List) relating to a pension plan partial wind-up and supplementary pension plan 
  • An electricity distribution company in a proceeding before the Ontario Superior Court of Justice relating to the issue of discoverability under the Limitations Act, 2002 
  • Corporate directors in a proceeding before the Environmental Review Tribunal relating to a stay of an order of the director of the Ministry of the Environment and Climate Change pending an appeal of that order 
  • An extra-provincial private company in proceedings before the Court of Appeal for Ontario relating to the jurisdiction of the Ontario courts 
  • A foreign investment advisory firm in proceedings before the Ontario Superior Court of Justice (Commercial List) relating to the payment of certain debts and fees 
  • The Special Committee of the Board of Directors of Aberdeen International Inc. in proceedings before the Ontario Superior Court of Justice (Commercial List) relating to the appointment of an independent chair for a shareholders’ meeting 
  • A fractional owner of property in proceedings before the Ontario Superior Court of Justice relating to the division of net proceeds of sale 
  • A significant unitholder of a publicly traded REIT in proceedings before the Ontario Superior Court of Justice (Commercial List) relating to the applicability of and compliance with an advance notice policy for the nomination and election of trustees
  • A firm of engineers before the Elliot Lake Commission of Inquiry

Education

University of Cambridge, LL.M., 2012

University of Windsor, J.D. (Gold Medal), 2009

University of Toronto, B.A. (Hons), 2005

Recent Work

Publications, Newsletters and Articles

Class Actions e-COMMUNIQUÉ - August 2019

Canadian Securities Litigation Outlook 2018: Trends to Watch for Capital Markets Participants

Plaintiffs Need Not Reply: Motion Striking Reply Expert Report as Violating the Rule Against Case-Splitting Granted

Class Actions e-COMMUNIQUÉ - September 2018

Hole in One: Ontario Superior Court of Justice Dismisses Oppression Class Action Against North Halton Golf and Country Club

British Columbia Becomes More Plaintiff Friendly With Adoption of the Class Proceedings Amendment Act

Rejection of Reasonable Investigation Defence in Securities Class Action Stands: Supreme Court Denies Leave to Appeal

Time to Face(book) the Music: Class Action Against Facebook Proceeds in British Columbia Following Failure of Jurisdictional Challenge

Not Necessarily Here: Ontario Court of Appeal Clarifies Jurisdictional Limits for Secondary Market Misrepresentation Claims

OSC Publishes 2018-2019 Statement of Priorities

The Eleventh Hour: Ontario Securities Commission Approves Yet Another No Contest Settlement

Working Together Works: Ontario Securities Commission Approves Reduced Sanction for Insider Tipper who Cooperated with Investigation

Deferred No More: Deferred Prosecution Agreements Finally on Their Way to Canada

Class Actions e-COMMUNIQUÉ - April 2018

Shareholders "Got the Power"? Proposed Amendments to Enhance Shareholder Voting Rights

Credibility Issues and Lack of Clear Record Lead to Rejection of Reasonable Investigation Defence as a Bar to Leave in Secondary Market Securities Class Action

Not Enough to File and Smile: BC Supreme Court Refuses to Certify Class Proceeding, Confirms That Low Bar Does Not Mean No Bar

Not Home Free Yet: Financial Institution Faces New Lawsuit Despite Creative Comprehensive Global Settlement for Disclosure Violations

No New Duty, No Negligence: Ontario Court Dismisses Class Action Certification Motion Against Underwriters

Call to the bar

Ontario, 2010

Associations

  • Law Society of Ontario
  • Canadian Bar Association
  • American Bar Association
  • The Advocates’ Society
  • Toronto Lawyers Association
     

Expertise

Securities Litigation
Litigation
Class Actions
White Collar Crime & Regulatory Response