is stepping up its counterattack against activist shareholder Engine Capital LP, accusing the New York hedge fund of causing it “significant damage” and threatening legal retaliation.
“We have serious concerns regarding Engine’s conduct, which our board has a duty to investigate,” D&D spokesman Wojtek Dabrowski said in an e-mail to The Globe. The letter “outlines the nature of those concerns,” he said, declining further comment. Mr. Ajdler, whose firm owns 6.6 per cent of the Toronto legal software company’s stock, accused D&D of “underperformance and strategic missteps” in a letter to shareholders last month, criticizing its stock performance, capital allocation and management of a convertible debt refinancing.
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