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
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B.C. Securities Commission sets high threshold for finding parties to be “acting jointly or in concert”
By Silas Lee on
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.