On behalf of a US-based biotechnology company, Nardello & Co. provided support in defense of a potential proxy battle. Our client’s opponent was a well-known Canadian businessman with a long history of questionable dealings and regulatory problems. Nardello & Co. conducted an open source investigation of the businessman and some of his closest associates in Canada and the US.

Although the businessman’s past problems were well known, our investigation revealed a number of new issues. These included hundreds of millions of dollars in losses in recent years in his various business operations, as well as the sale of personal assets, which suggested that the businessman was financially overextended. In addition, we identified his failed Canadian business ventures that had received significant government financial support despite questions about their viability.

Our client used the information we developed to inform its strategy in discussions with the businessman and successfully defend itself against the proxy solicitation.