TORONTO, Nov. 7, 2024
/CNW/ - Dye & Durham Limited (the "Company" or "Dye
& Durham") (TSX: DND) today commented on the Competition
Bureau's (the "Bureau") investigation into the Company's position
in the conveyancing software market, as announced by the Bureau
today.
The Bureau, as per its normal course practice, obtained a court
order to produce records and provide written responses, related to
its investigation. There has been no determination, finding, or
conclusion of wrong doing at this time and Dye & Durham is
providing its full cooperation with the Bureau's investigation. The
Company will continue to take steps to inform and educate the
Bureau on its business and industry practices.
Dye & Durham is an extraordinary Canadian success story,
disrupting a disjointed customer experience for legal and business
professionals. The Company operates in the highly competitive
software industry, and one that is regularly disrupted by
technological innovation.
Dye & Durham is concerned that the Bureau may be acting on
allegations originated in whole or in part by industry competitors
who have resisted productivity enhancing innovation that could
improve the customer experience and present more attractive product
offerings and solutions. The Company is also concerned that the
allegations in the Bureau's filing materials improperly
contextualize commercial relationships and standard software
industry and data services business practices such as subscription
and contract terms, discounted pricing, and product suite
offerings.
The Company will continue to update stakeholders when
appropriate, respecting the integrity of the Bureau's
investigation.
The investigation places no restriction on Dye & Durham's
execution of its strategy, operations, or conduct of its
business.
ABOUT DYE & DURHAM LIMITED
Dye & Durham Limited provides premiere practice management
solutions empowering legal professionals every day, delivers vital
data insights to support critical corporate transactions and
enables the essential payments infrastructure trusted by government
and financial institutions. The company has operations in
Canada, the United Kingdom, Ireland, and Australia.
Additional information can be found at www.dyedurham.com.
Forward-Looking Statements
This press release may contain forward-looking information
within the meaning of applicable securities laws, which reflects
Dye & Durham's current expectations regarding future events. In
some cases, but not necessarily in all cases, forward-looking
statements can be identified by the use of forward looking
terminology such as "plans", "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be
achieved". In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking statements.
Forward-looking statements are not historical facts, nor
guarantees or assurances of future performance but instead
represent management's current beliefs, expectations, estimates and
projections regarding future events and operating performance.
Forward-looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond Dye & Durham's control, which could cause actual
results and events to differ materially from those that are
disclosed in or implied by such forward-looking information. Such
risks and uncertainties include, but are not limited to, the
factors discussed under "Risk Factors" in Dye & Durham's most
recent annual information form. Dye & Durham does not undertake
any obligation to update such forward-looking information, whether
as a result of new information, future events or otherwise, except
as expressly required by applicable law.
SOURCE Dye & Durham Limited
