Toronto-based investment firm Waterton Global Resource Management, which is waging a proxy contest against Hudbay Minerals, has started legal proceedings against the TSX- and NYSE-listed miner in the Ontario Superior Court.
According to a statement from Hudbay, Waterton is alleging that the company’s management information circular in respect of its yearly and special shareholders meeting scheduled for May 7, contains misrepresentations and seeks to constrain its ability to solicit proxies.
“Hudbay believes that the litigation is frivolous and will vigorously defend itself. The company will seek to recover its legal cos