OSC Releases CI Financial Decision

The Ontario Securities Commission has released its landmark reasons for decision in the dispute between CI Financial and the Toronto Stock Exchange. In a decision released with reasons to follow in May, 2011, the OSC quashed the TSX’s attempt to revisit a shareholder’s rights plan implemented by CI Financial in 2008, based on the objection of Scotia Financial. Stockwoods lawyers Paul Le VayJohanna Braden and Owen Rees successfully acted for CI Financial in this matter.