Nader Hasan (Toronto)

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SPACtivism: A New Trend Looming in Shareholder Activism

Photo of Brandon SchuppPhoto of Nader Hasan (Toronto)By Brandon Schupp and Nader Hasan (Toronto) on Posted in Proxy Battles, Securities, Shareholder Activism
The past 18 months have seen a number of developments in North American capital markets, with trends such as the rise of meme stocks and the self-proclaimed retail investor revolution dominating many headlines. Another interesting, if less novel, trend that emerged in 2020 was a resurgence of special purpose acquisition corporations (“SPACs”). In 2020, more … Continue reading

A UK dispute sheds light on the duties of a dissident director

Photo of Nader Hasan (Toronto)By Nader Hasan (Toronto) on Posted in Proxy Battles, Shareholder Activism
A recent decision of the UK’s High Court — Stobart v Tinkler [2019] EWHC 258 (Comm) — has been released following a dispute between directors of a large infrastructure company (the “Company”). The decision, and the circumstances preceding it, serve as a cautionary tale about the duties of a dissident director and of board members … Continue reading

When defamation in hostile proceedings leads to serious consequences

Photo of Nader Hasan (Toronto)By Nader Hasan (Toronto) on Posted in Litigation, Proxy Battles, Shareholder Activism, Uncategorized
It will come as no surprise to those who have participated in a proxy fight to learn that these disputes can be heated affairs.   Parties to a fight will routinely seek to discredit the other side to bolster their own narrative or otherwise gain a strategic advantage.  In such an atmosphere, it can be difficult … Continue reading

Social media: shareholder activism in 140 characters or less

Photo of Nader Hasan (Toronto)By Nader Hasan (Toronto) on Posted in Shareholder Activism
Social media has changed how we live. We have access to extensive information and global connections at our finger tips.  Given its already well-established presence in our personal lives, it comes as no surprise that social media has become a popular platform for campaigning activists.  In fact, 2017 marks one decade since an individual shareholder … Continue reading

Making your vote count II: CSA finalizes proxy voting protocols

Photo of Walied SolimanPhoto of Andrea BrewerPhoto of Nader Hasan (Toronto)By Walied Soliman, Andrea Brewer and Nader Hasan (Toronto) on Posted in Corporate Governance, Securities
The Canadian Securities Administrators (CSA) have recently released finalized guidance and protocols for meeting vote reconciliation under CSA Staff-Notice 54-305 Meeting Vote Reconciliation Protocols (the Protocols) which are implemented on a voluntary basis. The Protocols mark the latest step in a systemic review that began in 2013 to bring greater transparency and simplicity in vote … Continue reading

Universal proxies: SEC proposal moving forward

Photo of Walied SolimanPhoto of Andrea BrewerPhoto of Nader Hasan (Toronto)By Walied Soliman, Andrea Brewer and Nader Hasan (Toronto) on Posted in Securities
In a move that may encourage shareholder activism and increase the potential for proxy contests, the Securities and Exchange Commission (SEC) has voted to propose amendments to the U.S. federal proxy rules (the Proposed Rules). As discussed in a previous post, the Proposed Rules will require parties in all “non-exempt” solicitations in a contested director … Continue reading
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