Thursday, May 11, 2006

BMO Director Sues Shareholder Activist

Robert Astley has served shareholder activist Robert Verdun with a $1 million defamation suit. Filed in court yesterday the suit makes claim against Mr. Verdun that "the deliberate intention of discrediting Mr. Astley's reputation and holding him up to public scandal, ridicule and contempt." Mr. Verdun was one of the original shareholder activists who would attend annual general meetings and actually ask questions that management did not want to hear. Microphones were cut off and there was at least one instance of actual scuffling at the podium. Many companies loathed his presence. But now that certain matters are before a judge will we see the truth of what actually went on? Or will we just dig two graves and forget about it.