I agree,

What the SLI fiasco has done is to destroy the myth of shareholders being the owners of a public company, shareholders provide the capital, management use it at their own discretion, and cannot be held accountable for anything.

This is not unique to SLI, I have seen other examples in Canada and the UK.

The regulators are only interested in keeping up the appearance of a clean market, rather than taking action, IMO.

Whilst I can accept the argument that there were defficiencies in the greens proxy, (which there were) the fact that the Chair, who is also the CEO, can simply disallow all the votes againt her makes a mockery of even having AGM's, again IMO.

When the only recourse for shareholders is to resort to expensive legal action to try and right a wrong, and then they get clobbered for the other side's costs if they lose! You couldn't really make this stuff up, and as a result I am reducing my investments on the TSX, this is not a market for investors, only for promoters that can tell a good story and who don't have much personal skin in the game.