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Stock impact report

Mining firm Hudbay says shareholder Waterton files lawsuit [Reuters]

Hudbay Minerals Inc. Ordinary Shares (Canada) (HBM) 
Last hudbay minerals inc. ordinary shares (canada) earnings: 2/20 05:35 pm Check Earnings Report
Company Research Source: Reuters
Mining firm Hudbay says shareholder Waterton files lawsuit - Reuters 2 Min Read (Reuters) - Hudbay Minerals Inc said on Tuesday private equity firm Waterton Global Resource Management has filed a lawsuit against the mining company in a bid to stop it from soliciting proxies for its annual shareholder meeting in May. The lawsuit escalates the tensions between the Toronto-based miner and Waterton, which has blamed Hudbay’s management for “abysmal” shareholder returns and “chronic underperformance,” and has proposed five new independent board members, two of whom Hudbay has accepted. Waterton, which says it owns 12 percent of Hudbay, alleges management’s circular for Hudbay’s May 7 annual shareholder meeting contains misrepresentations, Hudbay said in a statement. Waterton did not immediately respond to a request for comment. “Hudbay believes the litigation is frivolous and will vigorously defend itself,” the miner said, adding it will seek to recover its legal costs from Waterton. Hudba Show less Read more
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