Dye & Durham Falls as Adviser Drops Out of Strategic Review (1)

(Updates with share price movement.)

Dye & Durham shares fall as much as 13% on Thursday, hitting a new all-time low, after the legal software provider said CIBC Capital Markets stepped down as the financial adviser to its strategic review. The company added that the strategic review remains active despite a dispute with Plantro, which withdrew its takeover proposal and was accused by the company of making misleading statements.

• Review includes potential sale of all or part of the company
• Plantro withdrew proposal after company sought to enforce cooperation agreement
• Company alleges Plantro made misleading comments about leverage and outlook ...