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Pacifica stockholder suit rejected.
The Supreme Court of British Columbia has rejected all of the efforts of New York fund manager Cerberus Capital Management to prevent Pacifica Papers from mailing a proxy circular for the Pacifica shareholders' meeting to consider and vote upon a merger plan with Norske Skog Canada Ltd. The meeting will be held in Vancouver, B.C., on June 11.
Pacifica had sought an interim order from the B.C. court authorizing the convening of the shareholders' meeting and the sending of the circular. Pacifica has also asked the Ontario Superior Court to permanently stay a suit filed by Cerberus. A ruling is expected shortly.
Cerberus, the principal stockholder in Pacifica …
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