Mr. Morganti has handled virtually all aspects of the plaintiff-side litigation and has argued motions in various U.S. state courts, the U.S. Federal District Court for the Southern District of New York, Northern and Central Districts of California, as well as Canada’s Ontario Superior Court of Justice, Ontario Court of Appeal, and Alberta and Quebec Superior Courts.
Mr. Morganti has been a guest lecturer in over a dozen conferences, including for the American Bar Association, University of Michigan Law, Ontario Bar Association, Offshore Alert (the Journal), and has been published in peer review journals, such as, Ellen Meriweather and Andrew Morganti, Emerging Trends in Certification of Antitrust Class Actions in Canada, ABA Antitrust, Vol. 24, No. 3, Summer 2010. He has also served as a Vice Chair and Chair of the State Bar of Michigan’s Antirust Section as well as the Vice Chair of the American Bar Association’s Class Actions and Derivatives Suit Section.
Mr. Morganti was the founder of Morganti & Co., P.C., which had offices in Toronto and Montreal, Canada, and Den Haag, Netherlands. He previously and proudly practiced law at the firms of Milberg Weiss Bershad & Schulman, LLP (New York, New York), Finkelstein Thompson & Loughran, LLP (Washington, District of Columbia), and Miller Faucher Cafferty and Wexler, LLP (Ann Arbor, Michigan), where he focused his practice upon representing investors and small business owners in Antitrust and Shareholder Lawsuits.
Prior to joining Berger Montague, Mr. Morganti’s law firm in Canada was recognized as one of the top-50 shareholder class action law firms by ISS between 2017 and 2021, and lead counsel to several leading investor-supportive court decisions across Canada that distinguishes shareholders’ rights in Canada different from the United States, including Kaynes v. BP PLC, 117 OR (3d) 685; Paniccia v. MDC Partners Inc., 142 OR (3d) 421; Wong v. Pretium Resources, 139 OR (3d) 353; as well as being lead counsel in the first statutory shareholder claim in Alberta, Canada, identified as Stevens v. Ithaca Energy Inc., 2019 ABQB 474 (certifying a class of investors that purchased shares on the TSX, London’s AIM, and U.S.’ OTC markets) and in Quebec, Canada, identified as Cattucci c. Valeant Pharmaceuticals International Inc., 2017 QCCS 3870 (settling over $120 million).
Mr. Morganti is routinely involved in representing European investors in Canadian class actions as well as representing investors in micro-cap shareholder litigation such as in Kauf v. Colt Resources, Inc., 2019 ONSC 2179, where he recovered close to 50% of certain German class members’ losses that purchased shares on the Frankfurt Stock Exchange.
Prominent Judgments and Settlements
- Gowanlock v. Auxly Cannabis Group, Inc., 2021 ONSC 4205. Leave to proceed granted recognizing that, “The court, on the other hand, comes to the event in retrospect, after the market impact (or lack thereof) has taken place. In the circumstances, the task at hand is to determine whether the alleged public correction was understood in the market as a correction. At this point, the market impact can be objectively determined by an examination of the stock’s subsequent price movements, and the market, reflecting economically rational investor behavior, becomes the determinant of what the reasonable investor might think.”
- Gauthier v. David Baazov (Amaya, Inc), 2020 QCCS 245. Alleged manipulating shares with false statements to take company private granted leave to proceed/authorization and Quebec court adopting Sharbern Holdings Inc (SCC) as the proper test to assess when fact becomes a material fact for satisfying the statutory claim.
- Miller v. FSD Pharma Inc., 2020 ONSC 4054. Leave to proceed granted recognizing that final public corrective disclosure came from a formerly retained third-party company to oversee the engineering project.
- LBP Holdings v. Hycroft Mining Corporation, et al, 2020 ONSC 59. The Division Court affirms that stand-alone common law negligent misrepresentation claims can advance forward against investment banks that released certifications annexed to a prospectus containing alleged misrepresentations, the element of reliance can be dealt with through individual trials of each class member, and class actions do, in fact, provide access to justice to investors, including family offices and institutional investors.
- Kauf v. Colt Resources, Inc., et al,, 145 O.R. (3d) 100. Leave to proceed granted recognizing that an announcement of a C-level executive without anything more can serve as a partial public correction when the company omits to disclose the reason for the resignation was because the person engaged in improper conduct; also adopts the Sharbern Holdings Inc (SCC) as the proper test to assess when fact becomes a material fact for satisfying the statutory claim and Companies can be liable for storm warnings, e.g., not disclosing all the bad news in one disclosure.
- Stevens v. Ithaca Energy Inc., 2019 ABQB 474. The first known Alberta court to adopt Sharbern Holdings Inc (SCC) as the proper test to assess when fact becomes a material fact for satisfying the statutory claim and granting leave to proceed with the statutory shareholder claim. Also, the first known Alberta-based shareholders claim to be granted “leave to proceed” under the Securities Act.
- Wong v. Pretium Resources Inc., 139 O.R. (3d) 353. First known Ontario court to adopt Sharbern Holdings Inc (SCC) as the proper test to assess when fact becomes a material fact for satisfying the statutory claim and granting leave to proceed with the statutory shareholder claim, which the Division Court denied the Defendants’ motion to appeal.
- Paniccia v. MDC Partners Inc., 2017 ONSC 7298. Affirms that the Ontario Securities Act can reach shares traded on foreign stock exchanges and that Canadian investors are not limited to watch a foreign class action, which they are members, but can also advance a claim in Ontario pursuant to Ontario laws: when there is jurisdiction simpliciter, Ontario courts does not automatically stop being interested in regulating trading of securities on foreign stock exchanges.
- Catucci v. Valeant Pharmaceuticals International Inc., 2017 QCCS 3870. The first known Quebec court to granting leave to proceed/authorization with the statutory shareholder claim.
- Kaynes v. BP plc, 133 O.R. (3d) 29. The Court of Appeal lifted a stay of proceedings relating to shares purchased on foreign stock exchange when foreign class action claim was dismissed.
- Kaynes v. BP plc, 122 O.R. (3d) 162. The Court of Appeal affirms that once the Ontario Securities Act applies to a Canadian investor, it applies to shares traded on foreign stock exchanges.
- Kaynes v. BP plc, 2013 ONSC 5802. The Ontario Court agrees with Ontario investors that the Ontario Securities Act can apply against foreign corporations with shares traded on foreign stock exchanges once jurisdiction simpliciter is established.
- Ellen Meriweather and Andrew Morganti, Emerging Trends in Certification of Antitrust Class Actions in Canada, ABA Antitrust, Vol. 24, No. 3, Summer 2010
- Member – District of Columbia (2002)
- Member – Province of Ontario (2010)