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Neill May quoted in "Canadian regulators put proxy 'vote buying' in the crosshairs", Financial Post


Lawyer Neill May
Area Corporate Finance and Securities


Excerpt from "Canadian regulators put proxy 'vote buying' in the crosshairs", by Barbara Shecter, Financial Post:

“The PointNorth decision is unlikely to be the final chapter on this subject,” Neill May, a partner at Goodmans LLP wrote in a note to clients. “Reasons include the widespread use and controversial nature of these arrangements, the potential for a different result if the complainant can lead to evidence of harm and the fact that the ASC did not express a broad perspective on the practice.”

Among the points left open to debate is whether the use of a soliciting dealer arrangement in a proxy contest goes against the fiduciary duties of directors, or is oppressive to shareholders, wrote May, who is co-chair of the corporate securities group at Goodmans.

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