OTCQX:DMMIF - Post by User
Comment by
Malpeque2on Jan 06, 2020 4:37pm
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Post# 30523575
RE:RE:CANDYLAND
RE:RE:CANDYLANDSpell Correction. It was Donnybrook Energy. Settled for $5.5M
Douglas M. Worndl is at Rochon Genova in Toronto. 416-363-1867. ext 312
dworndl@rochongenova.com
IMO he is very good, as is A. Morganti.
We had a small problem initially finding a shareholder to represent the class, as I did not own shares of Donnybrook/Donnycreek during the class period. I sent Doug W. and outline and references to all the SEDAR Docs on Donnybrook/Donnycreek case and he did the rest. Basically, the claim that was made was that the filing of the circular by managment on the SpinCo, and the offering of shares in the PP to insiders, was materially false and misleading.
No problem here on the issue of someone representing the class with all the pissed off stockholders I see just on Stockhouse. You can say that Titan offering material filed in Candyland is also materially false and misleading, and that BOD4 Breached their fiduciary duty in the fairness opinion, and the no recommendation action while at the same time some of them time tendering AND locking up their shares, with a duty or obligation to Titan. Titan is also cease traded, and closely held, so the "value" of the offer is materially uncertain IMO.
Again, looks like a very good case and about the must F&^ked up one I have ever seen in Canada to date. I agree with the initial judges order, but their should have been some effort to remove these BOD4 thru special meeting or legal action already.