This morning from OSC (Ontario's SEC equivalent)
Don't know what it will do the the shares of Sino Forest, but it cannot be good!
Once again weirdness in the market, Sino-Forest shares are suspended in Toronto, but still trading on the Pink sheet down in the U.S. -- down to $1.65 a share, close yesterday in Toronto was $4.81
The commission said in a release Friday that it has reason to believe the company and certain of its officers and directors have “misrepresented some of its revenue and/or exaggerated some of its timber holdings” and that some of the officers and directors – including chief executive officer Allen Chan – appear to be engaging in acts “they know or reasonably ought to know perpetuate a fraud.”
Don't know what it will do the the shares of Sino Forest, but it cannot be good!
Once again weirdness in the market, Sino-Forest shares are suspended in Toronto, but still trading on the Pink sheet down in the U.S. -- down to $1.65 a share, close yesterday in Toronto was $4.81
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