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While Canadian apparel manufacturer Gildan Activewear continues to be in conflict with its shareholders, Browning West, which owns 5% of the company's outstanding shares, is actively seeking support for its board nominees ahead of the special meeting on 28 May.
Browning West LP says two lawsuits launched by Gildan Activewear Inc.'s board against the investor have been dismissed.
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Gildan Activewear has reported Q1 net sales of $696m, which is decline of 1%, however its CEO maintains it is a "solid" result.
As Gildan Activewear Inc. executives continued to argue with its top shareholders over who should lead the company, which is open to a sale, the business reported its earnings fell almost 20 per cent in its first quarter.