Canada’s Supreme Court has ruled in favour of Totonto-based leather producer Danier Leather Inc. in the Kerr vs Danier Leather Inc. case.

The court found that the company did not mislead investors in 1998 when it did not disclose that its revenue forecast could be affected by a weather-related drop in sales. A unanimous ruling stated that Danier was not obliged to tell investors about a sales dip as it did not involve a material change in the company's business, operations or capital.

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