Nominee directors are central to activist, private equity and venture capital investment strategies.
But what should take precedence: the confidentiality of board deliberations or the investor’s expectation of information?
A recent ruling by the Delaware Court of Chancery highlights that Canadian and Delaware corporate law differ relatively significantly on this important issue.
Writing in The M&A Lawyer (PDF, 184KB), we highlight what investors in the Canadian market, and their nominee directors, should know about the sharing of confidential company information in Canada.
We then provide key practice points to consider when appointing nominee directors amid Canadian investment transactions.
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