11:23:38 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Dye & Durham Ltd
Symbol DND
Shares Issued 54,955,683
Close 2023-11-15 C$ 12.26
Market Cap C$ 673,756,674
Recent Sedar Documents

Globe says Dye & Durham price-hike case dismissed

2023-11-16 07:53 ET - In the News

The Globe and Mail reports in its Thursday, Nov. 16, edition that Ontario Superior Court Justice Edward Morgan has thrown out a proposed $200-million class-action lawsuit against Dye & Durham over price hikes and broken promises. The Globe's Sean Silcoff writes that D&D said it was "pleased with this outcome and glad to put this meritless lawsuit behind us." At issue was a pair of price hikes announced by D&D in early 2021 and 2022, and whether a broken price-freeze promise to clients constituted a contractual obligation. D&D called the pledge "puffery" in court documents. Justice Morgan in March said there was no evidence the plaintiffs suffered any loss of business and that if anyone suffered a financial hit, it was their clients. Justice Morgan wrote at the time a request by the plaintiffs to bring in new expert evidence would result in "a fundamental reconceptualization of the claim," meaning D&D has "gone to all of the trouble of defending a case that is no longer the real case they will have to meet." He wrote that their request for a delay was a "gap filling exercise" that "looks to me like a redo of nearly the entire case."

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