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Gildan Activewear Faces Lawsuit From Activist Investor Seeking to Ensure No Delay to May 28 Shareholders' Meeting
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Gildan Activewear Faces Lawsuit From Activist Investor Seeking to Ensure No Delay to May 28 Shareholders' Meeting
Mar 11, 2024 3:22 PM

05:55 PM EDT, 03/11/2024 (MT Newswires) -- Gildan Activewear ( GIL ) shareholder Browning West said Monday it filed a lawsuit with the Quebec Superior Court against Gildan and its board to ensure that the company's annual meeting will be held as scheduled on May 28.

Browning West, which said it owns 5% of Gildan's outstanding shares, accused the board of taking "oppressive actions" against the shareholders allegedly for "self-preservation."

Browning West also asked the court to compel Gildan to hold the meeting "without employing any delay tactics or gamesmanship" and to ensure that the votes of all shareholders will be counted.

Gildan did not immediately reply to MT Newswires' request for comment.

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