Company’s oppressive blindfold of former employee renounced by Ontario Court of Appeal

In its recent decision in Marshall v MMV Financial Inc., the Ontario Court of Appeal confirmed the important principle, that it is unjust to compel a former employee to decide whether to exercise his options in the company and execute an assumption agreement (acknowledging that the Shareholder’s Agreement binds him) without him first being able to see the whole of the Shareholder’s Agreement, and that the company’s actions were oppressive. Notwithstanding, the Court of Appeal affirmed the lower court’s order that Schedule A of the Agreement could be redacted to remove names of the shareholders of the Company. (Marshall v. MMV Financial Inc., 2013 ONCA 188)

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