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AnalytixInsight Inc. v. Kondragunta
Robert Stellick acts for one of two individual applicants in this fast-moving, bitter corporate governance dispute between competing factions of the Board of AnalytixInsight Inc., a publically traded company with a market capitalization of approximately $5.3 million trading on the TSX.
On this expedited interim motion (eight days from first scheduling appearance to hearing), Robert's client (together with co-applicants) marshalled sufficient evidence to satisfy the Court that there was a reasonable basis for believing that the respondent directors and CEO had acted oppressively, dishonestly, and likely fraudulently. On that basis, they secured the appointment of an inspector and related interim relief under to ss. 161 and 248 of the OBCA. The decision provides a helpful discussion of the appropriate remedies and paths to those remedies when corporate directors are jostling for control of a company.