Ken McEwan, Q.C., provided an expert opinion to New Jersey counsel regarding derivative actions brought against Canadian entities in America. Ken’s Declaration contributed to the successful Motion of the defendants at United States District Court to dismiss the consolidated Complaint.
Basing his ruling on British Columbia law arguments, the Special Master accepted that BC’s leave of court requirement for shareholder derivative suits is substantive and that New Jersey courts would apply BC law. In finding for the defendants, the Special Master wrote that “the analysis of Canadian business corporations law rendered by Mr. McEwan is fully consistent with the analysis and the conclusions reached by the various U.S. courts when required to consider the impact of Canadian law on derivative suits brought here against Canadian entities”.
The full reasons in Re: Bausch Health Companies Inc. F/K/A Valiant Pharmaceuticals International, Inc., (November 24, 2020), New Jersey #19-17833-MAS-LHG (D.N.J.) can be found here.