Business · Companies · 3 hrs ago
Dye & Durham’s former CEO Matthew Proud rejoins its board
Matthew Proud is rejoining the board of Dye & Durham, a legal software company based in Toronto.
He left as CEO nearly two years ago after pressure from an activist investor.
The company has reached agreements with Proud’s holding company, Plantro, and investment firm EdgePoint, which together control 36 per cent of its shares.
The agreements run until next September and end all ongoing litigation between Plantro and the company.
EdgePoint will nominate a director, while Proud returns as Plantro’s nominee; other board changes are also planned.
The agreements aim to give the company more stability and focus after years of disputes over leadership and governance.
Dye & Durham still faces weak housing demand and increased competition, which have weighed on its results.
Dye & Durham Ltd. said former chief executive Matthew Proud is rejoining its board as a nominee of his holding company, Plantro Ltd.
The company reached standstill and voting support agreements with Plantro and EdgePoint Investment Group, which together control 36 per cent of its stock.
The agreements run until next September and end all ongoing litigation between Plantro and Dye & Durham.
EdgePoint will nominate firm partner Lee Matheson to the board, while former director Peter Brimm is also rejoining.
The company has faced governance disputes, weak results and financial reporting problems.
- Who
- Dye & Durham, Matthew Proud, Plantro Ltd. and EdgePoint Investment Group.
- What
- Proud is rejoining Dye & Durham’s board, and the company has reached standstill and voting support agreements with its two largest shareholders.
- When
- The company announced the agreements on Thursday, November 5, 2026. They run until next September.
- Where
- Toronto, Canada; Dye & Durham is a Toronto legal software company.
- Why
- The agreements end litigation between Plantro and the company and provide stability, according to company and shareholder representatives.
This story does not have two clearly opposing sides.
An agreement dating to Dye & Durham’s public listing gave Proud the right to nominate a director.
An activist campaign led by Engine Capital Management forced Proud’s exit and a board overhaul.
Dye & Durham was late filing audited financial statements and was hit with a cease-trading order.
CEO George Tsivin was ousted.
Dye & Durham announced agreements with Plantro and EdgePoint and Proud’s return to the board.
- Combined shareholding
- Plantro and EdgePoint control 36 per cent of Dye & Durham stock.
- Agreement term
- Until next September.
- Plantro’s board nominee
- Matthew Proud.
- EdgePoint’s board nominee
- Lee Matheson.
- Company location
- Toronto, Canada.
What people are saying
Dye & Durham is a great business
I’m excited to see stakeholders come together around a shared vision for creating long-term value after a few challenging years.
With our Board and our largest shareholders behind us, our teams can put their full attention where it belongs – on our platform, our products, and the customers who rely on us every day.
these agreements provide the stability the company needs and we believe this sets the stage