May 19th, 2024

Two Gildan lawsuits against Browning West dismissed amid leadership battle: investor


By The Canadian Press on May 16, 2024.

Browning West LP says two lawsuits launched by Gildan Activewear Inc. against the investor have been dismissed. The Gildan logo is seen outside their offices in Montreal, Monday, Dec. 11, 2023. THE CANADIAN PRESS/Christinne Muschi

Browning West LP says two lawsuits launched by Gildan Activewear Inc.’s board against the investor have been dismissed.

The activist investor is among several major Gildan shareholders that have been campaigning to have the clothing maker’s former CEO reinstated.

In a statement Thursday, Browning West said the two lawsuits were dismissed by the Superior Court of Quebec and the Quebec Financial Markets Administrative Tribunal.

Gildan announced late last year that longtime CEO Glenn Chamandy was being replaced, and several investors including Browning West are now fighting to have him brought back.

Browning West has nominated eight people including Chamandy for election to the Gildan board of directors at the company’s annual meeting on May 28.

Gildan did not immediately respond to a request for comment.

This report by The Canadian Press was first published May 16, 2024.

Companies in this story: (TSX:GIL)

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