The Toronto-based legal software company implored the activist investor in an open letter to stop contacting its employees. Dye & Durham claims Engine is spreading misleading information about the firm, and intimidating staff by allegedly soliciting information on the company in exchange for money. (The Logic)
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The Toronto-based legal software company implored the activist investor in an open letter to stop contacting its employees. Dye & Durham claims Engine is spreading misleading information about the firm, and intimidating staff by allegedly soliciting information on the company in exchange for money. (The Logic)
Talking point: Engine, which owns about seven per cent of Dye & Durham, has accused the company of “underperformance and strategic missteps,” which the company denies. The investor is one of four shareholders the company says is vying for control of it. Last month, Dye & Durham hired lawyers to block a potential takeover, claiming the activist investors have devalued the company in part by stopping bids in a sale process Dye & Durham recently dropped. Engine could gain more influence in the firm after its annual meeting on Dec. 17, when shareholders vote for new board members, including six Engine nominees.
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