The Litigator

THE LITIGATOR

Commentary on Law Affecting Business

The Litigator
AGM :: Affleck Greene McMurtry LLP

THE LITIGATOR

Affleck Greene McMurtry LLP
365 Bay Street, Suite 200  ·  Toronto, Canada
416 360 2800  ·  info@agmlawyers.com  ·  www.thelitigator.ca

business judgment rule


 

Business judgment rule does not trump unanimous shareholders’ agreement

Directors of a corporation cannot invoke the business judgment rule to justify decisions that violate a unanimous shareholders’ agreement, the Ontario Divisional Court held recently. [more] Full article

Canada’s top court dismisses shareholder class action against Danier Leather but rejects Business Judgment Rule as a defence in securities cases

Canada’s Supreme Court upheld the dismissal of Canada’s first-ever securities class action judgment in favour of investors relating to alleged misrepresentations on an initial public offering. [more] Full article

Intercorporate transactions may be oppressive

An unfair intercorporate transfer price system in place between Ford Motor Company of Canada and its US parent, Ford Motor Company, oppressed Ford Canada's minority shareholders, the Ontario Court of Appeal ruled in early 2006. However, because there was no evidence as to when these shareholders owned their shares, they were each entitled to only one day's damages. [more] Full article