«We will see how this case plays out, but the red flags to me at least, are (i) the potential unfair treatment
of one
class of shareholders to the benefit
of another; and (ii) the potential conflict
of interest by the Telus board and
certain executives.
Each share
class represents an interest in the same assets
of the Funds, has the same rights and is identical in all material respects except that (i) each
class of shares may be subject to different (or no) sales loads, (ii) each
class of shares may bear different (or no) distribution fees; (iii) each
class of shares may have different
shareholder features, such as minimum investment amounts; (iv)
certain other
class - specific expenses will be borne solely by the
class to which such expenses are attributable, including transfer agent fees attributable to a specific
class of shares, printing and postage expenses related to preparing and distributing materials to current
shareholders of a specific
class, registration fees paid by a specific
class of shares, the expenses
of administrative personnel and services required to support the
shareholders of a specific
class, litigation or other legal expenses relating to a
class of shares, Trustees» fees or expenses paid as a result
of issues relating to a specific
class of shares and accounting fees and expenses relating to a specific
class of shares and (v) each
class has exclusive voting rights with respect to matters relating to its own distribution arrangements.
Lamb's recent client successes include securing a dismissal on behalf
of the board
of a publicly traded company
of three
shareholder derivative and
class action complaints in Ohio and Texas challenging the fairness
of a $ 2.5 billion merger transaction and prevailing in an arbitration involving a dispute over the proper accounting treatment
of certain items in connection with another client's purchase
of a business.