NOMINATING BOARD MEMBERS TO COMPANIES THAT ARE HELD BY YOUR FUNDS? READ THIS.
It is common practice for investment funds to have the right to nominate one or more directors to a board of a company. However, IIAC Members should exercise caution when nominating board members to firms they invest in, as a recent case (Centerra Gold Inc. v. Bolturuk) found some egregious breaches of fiduciary duties. We are pleased to share a summary of the case with some key lessons and takeaways by Bennett Jones.