CVM and TJSP Decisions Reinforce a Softer Position on the Exercising of Voting Rights by the Controlling Shareholder

Recent positions of the Court of Justice of São Paulo (“TJSP”) and the Brazilian Securities and Exchange Commission (“CVM”) have pointed to the overcoming of the thesis of formal conflict of interests in relation to the exercise of the right to vote by a controlling shareholder, privileging the thesis of material conflict, as detailed here. MORE