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Leading Canadian Corporate Governance Expert Confirms Acute Board Conflicts and Governance Deficiencies at Knight Therapeutics
Leading Canadian Corporate Governance Expert Confirms Acute Board Conflicts and Governance...
About this update from Knight Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nLeading Canadian Corporate Governance Expert Confirms Acute Board Conflicts and Governance Deficiencies at Knight Therapeutics\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nPETACH TIKVA, Israel, April 17, 2019\n\n\n\nReport includes 54 recommended governance improvements for Knight and is available to all investors \n PETACH TIKVA, Israel, April 17, 2019 /CNW/ - Medison Biotech (1995) Ltd. (\"Medison\"), which together with its affiliates owns more than 10.4 million shares or 7.3% of Knight Therapeutics, Inc. (TSX:GUD) (\"Knight\" or the \"Company\"), today disclosed that an independent report authored by leading corporate governance expert Dr. Richard Leblanc (the \"Leblanc Report\") reveals and confirms acute conflicts of interest and governance deficiencies at Knight.   \nThese material weaknesses, which have severely impacted shareholders, are attributed to, among other factors, the multiple personal and business relationships among the current Board of Directors, the CEO, Jonathan Goodman, and the Goodman family network of competing businesses and investments.  \nDr. Richard Leblanc is one of Canada's leading experts on corporate governance and accountability. He is an award-winning teacher, researcher, lawyer, public speaker, consultant and specialist on boards of directors. He has taught at leading universities, including Harvard University and holds both American and Canadian law degrees and a PhD in philosophy from York University.\nAfter studying Knight's governance and Board, Dr. Leblanc noted:\n\"In my 25 years of assisting and advising organizations and boards, I have never seen such a complex web of interlocks, family, associate and affiliate relationships, and competing loyalties like this.\"\nDr. Leblanc developed fifty-four recommendations for fixing Knight's governance. He noted:\n\"My fifty-four recommendations are intended, in large measure, to address the real and apparent conflicts of interest and lack of Board independence [at Knight].\" \nAmong the recommendations Dr...