Rogers Plunges as Cable Scion Heads to Court to Seal Power
- Stock suffers worst hit since March 2020 as chaos grips firm
- ‘There will almost certainly be management changes’: BMO
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Shares of Rogers Communications Inc. suffered their worst decline since the pandemic market crash of 2020 after a weekend of open hostilities within the Rogers family left it unclear who’s in control of the board.
Canada’s largest wireless firm fell 5.8% to C$56.55 after Edward Rogers, the only son of late founder Ted Rogers, asserted that he’s the chairman and said he’ll try to get a Canadian court to agree that he has the right to choose the 14-person board.