Canadian corporate directors worried about the possibility of activist investors stealthily lurking in the shadows will soon have a new method of defence. On Wednesday, law firm Norton Rose Fulbright Canada will unveil a new corporate bylaw it has designed to thwart what it describes as “sneak attacks” from dissident shareholders who are trying to vote one or more directors off a company’s board. Otherwise known as “Vote No” or “Against” campaigns, such efforts differ from more common proxy battles in that they do not require activist investors to provide advance notice of their attack. The law firm is proposing an amendment that companies can choose to adopt as part of the corporate bylaw
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