Ontario’s highest court recently ruled that an employer’s right to buy back a senior executive’s shares was triggered on his termination date — not the end of the reasonable notice period. Paul R. Love had argued for the later date. His shares had substantially increased in value during the notice period. Love lost.
As of the termination date, Love had worked for Acuity Investments for only two and a half years. He had accepted the position primarily because he was offered an ownership stake.