Mr. Speaker, I would like to sincerely congratulate the Mouvement d'éducation et de défense des actionnaires, a shareholder advocacy group, and its president, Yves Michaud, on winning the opening round against the very powerful Power Corporation.
Recently, the Superior Court of Quebec ruled in Mr. Michaud's favour, stating that shareholders of a company have the right to be informed not only of that company's financial details, but also of those of the company's subsidiaries and other corporate entities. According to the decision, each company must keep these records at its headquarters and make them available to all shareholders.
The lawsuit began in May 2006 when Mr. Michaud asked Power Corporation for permission to consult Gesca's financial statements. When the company refused to disclose the information, Mr. Michaud took the matter to court. Last Friday, he attended Power Corporation's annual general meeting to learn more, but to no avail.
I know Mr. Michaud, and I know that he will continue the fight. Congratulations on this first victory.