Law360 Canada ( July 31, 2026, 2:05 PM EDT) -- Appeal by SS&C Technologies Canada Corporation (SS&C) from a judgment of the Ontario Court of Appeal. SS&C supplied proprietary financial data used to generate securities pricing information. In 1999, its predecessor entered into a data services agreement with Bank of New York Mellon Corp.’s (BNYM) predecessor authorizing only BNYM to access the data and prohibiting its sharing, redistribution, or sale to third parties, including affiliates. A separate agreement was executed with CIBC Mellon. After CIBC Mellon terminated its agreement in 2011, it continued receiving SS&C’s data through BNYM without charge. In 2016, SS&C discovered the arrangement after a system error, demanded that BNYM preserve and produce records concerning the redistribution of its data, and, following BNYM’s refusal, terminated the agreement and commenced an action for breach of contract. The trial judge found that BNYM redistributed SS&C’s proprietary data to unauthorized affiliated entities in breach of the agreement and failed to preserve relevant evidence. Following separate liability and damages phases, the judge drew adverse inferences from BNYM’s failure to preserve and produce records, applied a rateable approach to damages, and awarded SS&C US$5,696,850. The Ontario Court of Appeal upheld the findings of breach, expressly found that BNYM committed spoliation, affirmed the adverse inferences and damages methodology, but set aside the separate damages award for CIBC Mellon’s use of the data as duplicative. SS&C sought broader damages and adverse inferences on appeal, while BNYM denied breach and spoliation....