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Old Jan 16, 2003, 11:58 PM   #1
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MrB
drunk manslut
 
Join Date: Apr 1999
Location: Toronto, Ontario
Posts: 3,209
MrB is still being judged by the masses


Default OSC alleges insider trading by ATI CEO

I believe this story was mentioned a month ago but a new one has been posted around the financial sites. Check here for The Globe and Mail's coverage. We won't find out they are guilty till February.
Ontario's securities regulators confirmed Thursday it has started proceedings against ATI Technologies Inc. and its chairman and chief executive officer K.Y. Ho, alleging illegal insider trading.

Mr. Ho was one of six people named in a statement alleging insider trading resulting in $7.9-million in profits and avoided losses and triggering "significant tax benefits." Another person is accused of having given a misleading statement to OSC staff.

ATI Technologies was also named in Thursday's statement.

The allegations have yet to be proven.

ATI revealed last month that the OSC had raised concerns about the timeliness of its disclosure leading up to a profit warning in May, 2000. The company also acknowledged that the securities watchdog was examining trades made by certain company directors, officers and other insiders in the period preceding the warning, which triggered a 42-per-cent decline in ATI's stock.

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