Securities commission backtracks on Sino-Forest ruling

OSC had ordered company execs to resign

In an unusual reversal, the Ontario Securities Commission has rescinded an order to top officials from beleaguered timber firm Sino-Forest to resign amid continued allegations the company misrepresented assets. The commission had put a 15-day freeze on trading in Sino-Forest shares as part of the move, which prompted Standard & Poor’s to downgrade the company’s stock. Sino-Forest shares first tumbled in June after a short seller’s report accused the firm of being little more than a Ponzi scheme. The OSC did not explain why they had reversed their position.

Globe and Mail




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Securities commission backtracks on Sino-Forest ruling

  1. Oh, come on.  When are we ever going to find out the WHY? 

    “The OSC did not explain why they had reversed their position.”  This is not acceptable. 

    Come on journalists, at least give us “in spite of repeated requests for answers, the OSC did not explain why they had reversed their position”  And I trust someone is following up?  Forever if needs be?

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