Taseko Mines: Dissident Shareholder Fails to Disclose Bankruptcy Involving Proposed Director Nominee

Taseko Mines (TSX:TKO) reported that Raging River Capital, a dissident shareholder of the company, has failed to disclose a corporate bankruptcy involving one of its proposed nominees for Taseko’s Board.
As quoted in the press release:

In its January 13, 2016 news release RRC explicitly denied the involvement of its four director nominees with any bankruptcies within the previous 10 years. Disclosure about related bankruptcies is required under Canadian law.
However, nominee Mark Radzik was involved in a messy bankruptcy (the “Bankruptcy”) which required a formal settlement agreement with the Bankruptcy Trustee in 2013 (the “Bankruptcy Settlement Agreement”). Taseko management believes that shareholders should be concerned about both the denial of the fact of the Bankruptcy as well as the contents of the Bankruptcy Settlement Agreement, which raised certain allegations about the conduct of Mr. Radzik. For a copy of the Bankruptcy Settlement Agreement see:https://www.tasekomines.com/proxy-contest/shareholder-materials.
The Bankruptcy involves troubling circumstances that illustrate the danger of corporate directors who are also lenders. Taseko believes this conflicting dual role is especially concerning in the case of RRC because, as Taseko announced on February 18, 2016, RRC also failed to disclose that it had acquired bonds with face value that exceeds RRC’s share investment by more than fourfold.

Click here for the full press release.