Goldcorp (TSE) says it has resolved all of its significant legal disputes, including litigation between itself, Corona Minerals and other parties.
In 1989, Corona (now International Corona (TSE)) launched a lawsuit against Goldcorp, among others, claiming that Goldcorp used unlawful means to prevent Corona from acquiring control of Dickenson Mines (TSE) and Kam-Koita Mines. In April of that year, Goldcorp won the takeover fight for the two companies when it submitted a higher offer to shareholders. Today, about half of Goldcorp’s assets are invested in the 69% owned Dickenson, which in turn owns 51% of Wharf Resources (TSE).
Corona and Goldcorp settled out of court.
In February, the Supreme Court of the United States ruled in favor of Goldcorp and its co-defendant in a related action brought by a shareholder in 1989. The shareholder alleged that Goldcorp violated the U.S. Securities and Exchange Act when it removed certain restrictions in order to complete the Dickenson takeover.
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