April 16, 2019 / 11:25 AM / 10 days ago

Hudbay says shareholder Waterton files lawsuit against company

April 16 (Reuters) - Hudbay Minerals Inc said on Tuesday private equity firm Waterton Global Resource Management Inc has started legal proceedings against the Canadian miner.

Waterton, the company’s second largest shareholder, has alleged that Hudbay’s management information circular related to its annual and special meeting of shareholders “contains misrepresentations”, the miner said in a statement.

Hudbay said Waterton’s action seeks to constrain the miner’s ability to solicit proxies.

Waterton and Hudbay Minerals has been locked in a battle after the private equity firm urged the miner to replace its chief executive officer and nominated five directors to the company’s board. (Reporting by Shradha Singh in Bengaluru; Editing by Shailesh Kuber)

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