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Dissident shareholders sue Taseko directors for C$110M

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Dissident shareholders sue Taseko directors for C$110M

A dissident shareholder group, collectively known as Raging RiverCapital LP, is suing for C$110 million three directors of Taseko Mines Ltd. — Russell Hallbauer, Ronald Thiessen andRobert Dickinson — alleging that they benefited from the acquisition of CurisResources Ltd. to the detriment of other shareholders, Business in Vancouver reported April 12.

The suit also names Taseko Corporate Secretary Trevor Thomasand Hunter Dickinson Inc.,a private mining house whose principals are also Taseko principals and directors.

"Taseko Mines' acquisition of the failing Curis — whichincluded assets that proved to be essentially worthless — constituted a relatedparty transaction, and that the failure by Taseko's board of directors to allowshareholders to vote on the acquisition constitutes oppressive conduct," RagingRiver said.

Back in February, Taseko expressedconcerns regarding Raging River's accumulation of a substantial positionin company bonds, at a par value of around C$21.8 million, which was not disclosed.