KRIM Biopharma Inc., as well as its directors, with respect to the defence of a breach of contract and oppression claim brought by Stiefel Laboratories, Inc. in the Ontario Superior Court seeking $200 million in damages
Date Closed
March 2017
Lead Office
Toronto
Osler was counsel to KRIM Biopharma Inc. ("KRIM"), as well as its directors, with respect to the defence of a breach of contract and oppression claim brought by Stiefel Laboratories, Inc. in the Ontario Superior Court seeking $200 million in damages. The claim related to an asset purchase transaction with respect to a pharmaceutical product, and included parallel claims against the underwriters involved in the contemplated transaction.
Osler successfully had the claims against all of the named directors withdrawn (save and except the individual claims against the CEO), as well as all of the oppression claims. The remaining claims against the company and its CEO have now been resolved.
Osler, Hoskin & Harcourt LLP represented KRIM and its directors / officers with a team consisting of Lawrence Ritchie, Craig Lockwood, and Rebecca Hall-McGuire (Litigation).