Aim, the last sentence in your post, hit the nail on the head, I believe, this one.

" Sadly she knows exactly how to play the capital markets, it doesn't augur well for the next AGM."

Its not entirely Lori,s or the BOD,s fault. The lack of enforcement in the lines of protection for shareholders, along with lax and contradictory laws/provisions, allows for the system to be manipulated severly, against the interests of investors. This is why some arrogant do what they do, if there is enforcement, the fine is petty, only a cost of doing business, when there are fines levied. Also apparent, by the number of late filings, even though it is labled as an offence, there appears to be no reprimand or little deterrent, for it to not become habitual. There is falsehood in the regulators statement of protection, and entrapment because investors believe that the regulators would have upheld what is written as their script. This sense of security provided to every investor by regulators, when not acted on nor enforced, leaves them negligent because of no mitigation of risk to investors.

Plain and simple here, its up to the regulators to enforce and make laws to accustom situations, there appears to be no attempt at mitigation of risk, this should make them liable and accountable under the laws they must abide by. So, in this case, with the substantial amount of evidence that the regulators are in receipt of, and shareholders see no action, they are forced to sit and await an outcome, which inhibits them from making the most reasonable investment decision, because of non transparency and non action, among other things, by the very regulators that are assigned to protect investors and uphold laws. The regulators have every bit of power to straighten out the problem of the last AGM, they failed to exercise this power and added to the prolonged suffering of the shareholders.

In the end, it may not be Lori or the BOD that must be accountable, it will be the regulators and beyond, that offered the false sense of security. So if Lori plays this right, she walks away with full pockets, we walk away with full pockets, at the expense of regulators and the non active government representatives that were in receipt of substantial evidence, that also failed to protect the citizens, when approached. So, I am laughing, either way, we win. The more things Lori does that is not in our best interests, the better for us in the near future,. Accountability can be placed in many places of our society, connected to our situation.

Shareholders did everything within their power to mitigate risk, the non transparency and non dislocure by the regulators, kept investors entrapped and still do today, because we don,t know the outcome of any investigation. All the facts presented to investors, suggest high potential of properties,the properties havent run away, (except one) but the trouble with management could have been fixed easily a long time ago, and wasn,t. And that very fact could have been easily ascertained to shareholders by the regulators.

The huge conflict of interest that arises between the banks now owning the TSX and its regulators, may also make the banks accountable for not enforcing the Exchange to enforce the rules. An Idependent regulator may have eliminated any future legal action against the banks in similar matters. As we see almost every day, more and more banks being implicated in crimes of corruption, it may not be long before there are some big bank scandals surface in Canada. Nothing is impossible anymore in the financial world.

IMO