Stock in Royal Group Technologies plunged Thursday morning following revelations that the company is being investigated by the Ontario Securities Commission, the RCMP, and the Canada Customs and Revenue Agency.

Royal Group shares were down $4.36 to $13 at 9:35 a.m. ET. It was the first trading in the company since Tuesday.

A news release release from the company Wednesday night said the probes concern a resort in St. Kitts that is controlled by Vic De Zen, the chairman and former CEO of Royal Group. He is also Royal Group’s controlling shareholder.

Royal Group said the resort was a major purchaser of the company’s plastic building products, buying $32 million worth over the last five years.

Royal Group also said it’s known about the OSC investigation since late December. “The company established a special committee of the board of directors in late December 2003 to deal with those matters, consisting solely of independent directors who have retained independent legal counsel and forensic accountants,” it said.

Early Wednesday, Royal Group asked the Toronto and New York Stock Exchanges to halt all trading in its stock on the advice of lawyers after the company received “certain” information.

The company said it will continue to cooperate fully with the OSC.