Companies do not have to disclose merger negotiations as a material change until there is sufficient likelihood that the deal will close, the Ontario Securities Commission held recently in Re AiT Advanced Information Technologies Corp.

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The rules governing examinations for discovery require litigants to disclose all documents relevant to a particular action to their opponent subject to considerations of solicitor-client privilege, litigation privilege, and settlement privilege.  These rules rely on the good faith of the parties not to conceal or destroy any relevant documents.  When, however, a party suspects that [...]

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