each of the impugned documents in which the misrepresentation
 Kauf’s approach at the hearing not to pursue certain misrepresentation claims19 and instead focus on the alleged particular misrepresentations was consistent with the settled law.
 In Paniccia, Perell J. reviewed the law and summarized the
applicable legal principle (at para. 86):
The statutory causes of action require leave, and the leave requirement was
designed to have a gatekeeper function. Leave is required for each discrete
misrepresentation, such that leave for one allegation of misrepresentation does
not mean that leave is granted for all other allegations of misrepresentation
and, therefore, a plaintiff must lead sufficient evidence to satisfy the Court as to
the leave requirement for each discrete allegation of misrepresentation.
 Consequently, I apply the leave test to each of the remaining
issues, in order to determine whether there is a reasonable
possibility of success on the s. 138.3 claim.
c) The specific issues to be determined on this motion
 The only issues to be determined on this motion relate to
the December 2016 Press Release. The court must determine
whether Kauf has a reasonable possibility of success to establish
at trial that
( i) as of the date of the December 2016 Press Release, Jaffrey
had knowledge (or deliberately avoided acquiring knowledge)
that the Turcolt Investment was unauthorized (previously
defined as the “Jaffrey Knowledge Issue”); and
( ii) the December 2016 Press Release constitutes a public correc-
tion in relation to the Turcolt Investment (previously defined
as the “Public Correction Issue”).
 I address each of these issues below.
Issue 1: The Jaffrey Knowledge Issue
 The Defendants did not submit that they had no
duty to disclose (on the basis of materiality) in the December 2016
Press Release that the Turcolt Investment was unauthorized.
19 Kauf initially asserted numerous alleged misrepresentations in his factums
filed for the first hearing which the Defendants opposed on the basis that
there was no evidence to support those claims. During the course of the
initial hearing, Kauf modified the misrepresentations upon which he
sought leave, resulting in those which were not opposed as set out at paras.
8 and 9 above, and the two remaining issues before the court.