Andrew Morganti, Toronto Litigation Lawyer

Andrew’s practice is focused on representing clients in financial and investment frauds and securities claims in courts across Canada and the United States. He is one of the only actively practicing dual-licensed (Canada-USA) plaintiff lawyers across Canada who has over two decades of experience representing small business owners in Competition Act and investors in Securities Act class action claims.

Andrew understands how to recover losses for small business owners resulting from monopolization and price-fixing situations and investors with investment losses. His success is reflected by tangible results in more than a dozen court decisions and settlements-recoveries received by his clients. His class action appearances and recoveries have been so successful that he has been appointed as the trustee over class action claim administrations that include payments to investors in the United States and Europe.

Andrew has extensive European and Middle Eastern business, family, and legal experiences; he can provide an overall comfort level to international clients.

Andrew founded and managed his own boutique litigation firm for over a decade and has also worked at law firms based in New York, NY, Philadelphia, PA, and Washington, DC. He founded a Toronto-based law firm that earned its way to become ranked within ISS SCAS Top 50 securities class action firms for several years.

Education

• Harvard Law School, Certification in Negotiations
• Boston University, School of Law, LL.M. International Banking and Financial Laws
• Michigan State University School of Law, J.D.
• University of Michigan, B.A.

Recent Cases

• ONTARIO SUPERIOR COURT OF JUSTICE · SECURITIES FRAUD · $53.6 MILLION DEFAULT JUDGMENT
  Stajic v. Ward
  2026 ONSC 1707
  Following an $8 million settlement, Andrew obtained a $53.6 million default judgment for his clients against the former CEO of a cannabis company, on claims of common-law fraud and breaches of the Ontario Securities Act.
• ONTARIO SUPERIOR COURT OF JUSTICE · SECURITIES LITIGATION · MAREVA INJUNCTION
  Stajic v. Wayland Group Corp.
  2025 ONSC 6393
  Andrew obtained a Mareva injunction and related relief, including an order requiring an individual defendant’s former lawyers to disclose the source of the funds financing his defence.
• ALBERTA COURT OF KING’S BENCH · ALBERTA SECURITIES ACT · NOVEL ISSUE
  Landry v. Aurora Cannabis Inc.
  2025 ABKB 387, aff’d 2026 ABCA 131
  Andrew’s clients defeated the defendant’s motion, with the Court affirming investors’ right to choose the cause of action they advance and the remedy they seek. The Alberta Court of Appeal dismissed the defendant’s appeal.
  SIGNIFICANCE: The motion was the first of its kind in Canada within a Securities Act class proceeding.
• ONTARIO SUPERIOR COURT OF JUSTICE · ONTARIO SECURITIES ACT · PRE-LEAVE NON-PARTY PRODUCTION
  McDonald v. Guyana Goldfields Inc.
  2025 ONSC 2431; appeal denied, 2025 ONSC 5051
  In a proposed secondary-market class action originated and directed by Andrew, the plaintiffs obtained targeted document production from a non-party former executive before the statutory leave and certification motions.
  SIGNIFICANCE: The motion was the first of its kind in Canada.
• ONTARIO SUPERIOR COURT OF JUSTICE · ONTARIO SECURITIES ACT · LEAVE GRANTED
  Gowanlock v. Auxly Cannabis Group Inc.
  2021 ONSC 4205
  Andrew obtained leave to proceed under the Ontario Securities Act without the need for expert evidence. A class of investors who purchased on domestic and foreign exchanges was later certified, and the action settled.
• ONTARIO SUPERIOR COURT OF JUSTICE · ONTARIO SECURITIES ACT · LEAVE GRANTED
  Miller v. FSD Pharma Inc.
  2020 ONSC 4054
  Leave to proceed under the Ontario Securities Act was granted without expert evidence. The Court subsequently certified a class of investors who purchased on domestic and foreign exchanges, and the class action settled.
• ONTARIO DIVISIONAL COURT · CLASS ACTIONS · COMMON-LAW CLAIM CERTIFIED
  LBP Holdings Ltd. v. Hycroft Gold Corporation
  2020 ONSC 59
  The Divisional Court certified the common-law cause of action against the underwriters, and the Court of Appeal for Ontario later refused leave to appeal.
• ONTARIO SUPERIOR COURT OF JUSTICE · SECURITIES LITIGATION · DEFENDANTS ADDED
  LBP Holdings Ltd. v. Allied Nevada Gold Corp.
  2016 ONSC 1629, 130 O.R. (3d) 401
  Andrew succeeded on a contested motion to add parties as defendants to the proceeding.
• ONTARIO SUPERIOR COURT OF JUSTICE · ONTARIO SECURITIES ACT · STORM WARNINGS
  Kauf v. Colt Resources Inc.
  2019 ONSC 2179, 145 O.R. (3d) 100
  Andrew obtained leave to proceed without expert evidence. The proceeding was certified on behalf of investors who purchased on domestic and foreign exchanges, and the settlement returned money to investors in this micro-cap company.
  SIGNIFICANCE: The decision may be the first to recognize the concept of storm warnings, indicating issuers should presume to disclose the material facts behind the abrupt resignation of a senior executive.
• ALBERTA COURT OF QUEEN’S BENCH · ALBERTA SECURITIES ACT · LEAVE & CERTIFICATION
  Stevens v. Ithaca Energy Inc.
  2019 ABQB 474
  Andrew obtained leave to proceed and certification of a class covering shares traded on the Toronto, London, and U.S. over-the-counter markets.
  SIGNIFICANCE: This was the first contested application granted leave to proceed with a secondary-market cause of action under the Alberta Securities Act.
• ONTARIO SUPERIOR COURT OF JUSTICE · CROSS-BORDER SECURITIES · FOREIGN EXCHANGE PURCHASERS
  Paniccia v. MDC Partners Inc.
  2017 ONSC 7298
  The Court upheld the application of the Ontario Securities Act‘s civil liability regime to securities purchased on foreign exchanges.
  SIGNIFICANCE The decision confirms an investor may belong to both a Canadian and a U.S. class action until an opt-out election is required.
• ONTARIO SUPERIOR COURT OF JUSTICE · ONTARIO SECURITIES ACT · LEAVE GRANTED
  Wong v. Pretium Resources Inc.
  2017 ONSC 3361
  Andrew obtained leave to proceed with a secondary-market claim under the Ontario Securities Act.
• ONTARIO COURT OF APPEAL · CROSS-BORDER SECURITIES · FORUM NON CONVENIENS STAY LIFTED
  Kaynes v. BP p.l.c.
  2016 ONCA 601, 133 O.R. (3d) 29
  At first instance (2013 ONSC 5802, 117 O.R. (3d) 685), the Court held the provincial Securities Act applies to securities of a responsible issuer purchased outside Canada and denied BP’s forum non conveniens motion. The Court of Appeal stayed the action in 2014 (2014 ONCA 580, 122 O.R. (3d) 162), then reversed that decision on new facts in 2016 while affirming jurisdiction.
• QUEBEC SUPERIOR COURT · SECURITIES CLASS ACTION · $120 MILLION+ SETTLEMENT
  In re Valeant Pharmaceuticals International Inc.
  Court File No. 500-06-000011-157
  Andrew served as co-lead class counsel in this action, which originated with his client and settled for more than CAD $120 million, among the largest securities class action settlements in Canada. His firm was responsible for discovery projects.
• U.S. DISTRICT COURT, SOUTHERN DISTRICT OF NEW YORK · SECURITIES CLASS ACTION · $580 MILLION+ SETTLEMENT
  In re Initial Public Offering Securities Litigation
  21 MC 92 (S.D.N.Y.)
  Andrew represented several lead plaintiffs in this consolidation of hundreds of primary-market class actions, serving as a lead lawyer managing discovery of several investment banks. The action settled for more than USD $580 million.
• NASD ARBITRATION · SECURITIES LITIGATION · 33% RECOVERY
  Arsfinatica Investment Club v. Morgan Stanley & Co., Inc.
  NASD No. 04-07867
  Representing an investor who opted out of the Initial Public Offering Securities Litigation, Andrew recovered 33% of the alleged losses through arbitration.
• LOS ANGELES SUPERIOR COURT · SECURITIES LITIGATION · 50%+ RECOVERY
  Myers and Koehmsted v. Move, Inc., Merrill Lynch & Co., et al.
  No. BC 312115
  After his clients opted out of a pending securities class action, Andrew litigated every motion concerning tainted research reports and recovered more than 50% of the alleged damages. He was among the few lawyers to defeat the defendants’ motions to dismiss on tainted research.
• LOS ANGELES SUPERIOR COURT · SECURITIES LITIGATION · RESTRICTED STOCK
  Purcell v. Homestore.com
  No. BC 67919
  Andrew’s client sold his software company to a public company for restricted stock. A financial restatement then reduced the shares’ value before the restrictions expired, and Andrew obtained a material recovery.
• NASD ARBITRATION · BROKER-DEALER LIABILITY · 50% RECOVERY
  Bollinger Trust Ltd. v. Merrill Lynch, Pierce, Fenner & Smith
  NASD No. 03-08947
  Andrew originated this arbitration, heard in London and New York, and recovered 50% of the alleged losses despite written approvals. The recovery rested on his client’s reliance on direct conversations with the author of the impugned research reports.

Media Appearances

• AM640 · RADIO INTERVIEW · SHAREHOLDER CLASS ACTIONS
  The Wolf on Bay Street
  February 2, 2018
  Andrew discussed shareholder class actions.

Presentations

• MICHIGAN STATE UNIVERSITY COLLEGE OF LAW · GUEST SPEAKER · INTERNATIONAL LITIGATION
  Practicing International Litigation
  Lansing, Michigan · March 2022 and November 2009
• UNIVERSITY OF MICHIGAN LAW SCHOOL · GUEST SPEAKER · SHAREHOLDER LITIGATION
  Annual Shareholder Litigation Synopsis
  Ann Arbor, Michigan · 2007 to 2021, excluding 2020
  Andrew was a recurring speaker for Professor Adam Pritchard’s annual review.
• OFFSHORE ALERT · GUEST SPEAKER · CROSS-BORDER LITIGATION
  Offshore Alert Conference
  London, 2019 · Miami, 2018
• UNIVERSITY OF DETROIT MERCY SCHOOL OF LAW & UNIVERSITY OF WINDSOR FACULTY OF LAW · GUEST SPEAKER · ACCESS TO JUSTICE
  Unlocking the Doors of Justice: Consumers in Canada and Mexico Have Been Given the Keys but Need Lawyers to Use Them
  June 2013
  Andrew presented at Law and Legal Education in the Americas: Comparative Perspectives.
• AMERICAN BAR ASSOCIATION · CONFERENCE SPEAKER · SECURITIES FRAUD
  Who’s Liable Now? The Ever-Changing Face of Secondary Liability for Securities Fraud and the Definition of Materiality
  Litigation Section Annual Conference · Washington, D.C. · April 2012
• AMERICAN BAR ASSOCIATION · CONFERENCE SPEAKER · SECURITIES CLASS ACTIONS
  The Globalization of Securities Class Actions
  Litigation Section Annual Conference · Atlanta, Georgia · May 2009