Investor Alert: Who are the controlling shareholders of Dye + Durham Limited; recent court decision raises concerns of market manipulation

TORONTO, Sept. 30, 2024 /CNW/ - Berger Montague (Canada) PC, a Toronto-based law firm that focuses on representing investors in cross-border shareholder disputes, has expanded its investigation of Dye + Durham Limited (TSX: "DND" and CUSIP "267488") after the Ontario Superior Court of Justice released of a decision dated September 17, 2024, which raises questions about whether third-parties were acquiring blocks of DND from the market without disclosing that they were attempting to obtain a controlling interest over DND.

These third-parties have alleged in court documents that they were concerned about DND's debt ratios and ongoing acquisitions; they do not appear to have disputed the idea that they are coordinating their horizontal-competitor (as investors) interests of buying DND's securities in the open-market without disclosing their interests to take-control or otherwise remove/add directors.

Section 90 of the Ontario Securities Act requires an investor(s) seeking to take-over a publicly traded company to make a formal notice of its or their intention of a take-over. Section 105 of the Ontario Securities Act allows interested persons, such as investors of DND, to file an application with the Court to require the investor(s) to disclose their intentions and may require the investor(s) to pay the class of investors for damages such as a premium price for acquiring an overall controlling interest over DND. 

If you purchased shares of Dye + Durham Limited between August 31, 2022 and September 17, 2024, and would like to know more about our investigation or have information to share, please contact us at [email protected].  

Berger Montague (Canada) PC is one of the leading Canadian law firms that represent investors in shareholder class actions involving Canadian companies that list their securities on stock exchanges located in Canada, Germany, and the United States.

SOURCE Berger Montague (Canada) PC

Questions may be directed to: Berger Montague (Canada) PC, 330 Bay Street, Suite 505, Toronto, ON M5H 2S8, Email: Andrew Morganti at [email protected].