Recently, there have been a number of high-profile proxy fights involving trusts, particularly real estate investment trusts (REITs). In contrast to corporations, a trust is predominately governed by its declaration of trust (DOT). While a shareholder
Canada saw 69 shareholder activist campaigns in 2023 – an unprecedented high from previous years. The 2024 proxy season saw a continued evolution of the shareholder activism landscape with a record-breaking 76 activist campaigns across 55 Canadian companies and 11 sectors. Investors are continuing to seek change through activist measures and, with increased focus, are seeing higher success rates – nearly doubling the success rate of that of management.
In certain cases, disputes between companies and activist shareholders may be amicably resolved by entering into a settlement agreement. These agreements may provide a means to address the concerns and objectives of both parties while potentially avoiding costly and burdensome
The 2023 proxy season was marked by a number of notable developments in the activism landscape. After a downturn in shareholder activism throughout the COVID-19 pandemic, Canada experienced a resurgence in 2023 with a record number of activist campaigns. Activists
In Eastern Platinum Limited v. Ren, 2024 BCCA 109, the BC Court of Appeal confirmed that where one activist shareholder’s proxy fight and subsequent derivative action fails, another shareholder represented by the same legal counsel can successfully obtain
With the 2024 proxy season now in full swing, companies face a number of important questions. Among them is the timely question of meeting format: whether to hold the company’s annual general meeting (AGM) in person, virtually, or
As artificial intelligence (AI) regulation takes shape globally, public companies face the challenge of navigating this evolving landscape. In Canada, securities regulators are actively deliberating on how best to regulate AI, while in the US, companies are already
This blog post is the first of a new series looking at recent developments in Canadian corporate litigation, with a slight bias towards Ontario. The goal is to provide regular updates on court decisions that are of interest to the
Over the last decade, there has been a notable increase in the number of women on boards and in executive officer positions across Canadian issuers. This progress is reflected in the Canadian Securities Administrators’ (CSA) annual review of
Recently, the B.C. Securities Commission (the Commission) clarified the interpretation of “acting jointly or in concert” in the context of a proxy fight, setting a high bar for a finding of a joint actor relationship.