Rogers family feud could be decided Friday by B.C. Supreme Court decision
Global News
The dispute over who controls Rogers Communications Inc. is expected to be settled in B.C. Supreme Court on Friday after both sides presented arguments earlier in the week.
B.C. Supreme Court is set to pronounce its verdict on which of the dueling boards and chairs of Rogers Communications Inc. is legitimate, a dispute that has warped the country’s biggest wireless carrier after a feud in the founding family erupted into the open.
The judgment, expected at around 5:00 p.m. ET Friday, could bring to an end to the protracted battle in one of Canada’s biggest business families, with interest spanning across telecoms, media and sport.
A rare public fight in Canadian corporate world was sparked over who should lead the company and has weighed on the stock and some analysts have raised doubts about the fate of Rogers’ bid for rival Shaw Communications.
“As a shareholder, we would like to have it resolved and know who the CEO is and carry on,” said one top 20 shareholder who declined to be identified because of the sensitivity of the matter.
The shareholder said the stock has not been given the opportunity to reflect the strong operating result because of the drama that is taking place, even as the earnings momentum is likely to continue.
Rogers stock is up 0.8 per cent so far this year, compared with 18.1 per cent gains in BCE Inc an 14.7 per cent rise is Telus Corp in the same period.
“One or the other (CEO) is likely to deliver on the momentum that the operations have right now and the Shaw deal. It’s more just having the uncertainty taken away of who is going to be minding it,” the shareholder said, who believes the judge will rule in Edward Rogers’ favor.
On Monday, both sides presented their cases, with lawyers for former chairman Edward Rogers arguing that he had the authority to appoint a new board without an in-person shareholder meeting. The company lawyers countered that saying that due processes were not followed while naming a rival board.
The scene of the bus flying through the air and quickly slamming to the ground was captured by a security camera. Parents and witnesses watched on helplessly.
Montreal is increasing police patrols and cracking down on loitering in the metro system in response to a massive rise in people struggling with drug addiction and mental illness.
Like Liberal leaders before him, the Conservatives are attempting to define Liberal Leader Mark Carney to voters before he has a chance to.
'I'm proud to have served a country full of people who stand up for what's right,' Prime Minister Justin Trudeau said in a video on his last day in office.
Shortly after midnight, stargazers can catch a glimpse of the total lunar eclipse, or a full worm blood moon.
The Canada Revenue Agency says it's working to update its systems to reflect the current inclusion rate on capital gains after a last-minute reversal by the federal government.
The family behind one of Canada’s most well-known ice-cream brands says they’re absorbing “all immediate increases in our costs” as the U.S.-Canada trade war heats up.
Friedrich Trump called his business in Bennett, a town that sprang up because of the Klondike Gold Rush, the Arctic Restaurant & Hotel.
A new poll suggests that 40 per cent of Canadians are worried about losing their jobs as many businesses scale back hiring plans in response to the trade war with the U.S.
At the Halifax Stanfield International Airport, the tariff trade war between Canada and the U.S. is leaving flyers who travel between the two countries feeling very uneasy.
The man pleaded guilty to one count of violating the Migratory Birds Regulations after hunting snow geese without a permit, says a release from the ECCC.
Doug Ford is set to fly in and out of the U.S. capital on Thursday for a meeting with President Donald Trump's commerce secretary which could calm or reignite trade tensions.
'Half of us here are dual citizens, including me -- Canadian and American, half of us,' Point Roberts resident Brian Calder told Global News.