Home Home Capital Group Inc.

Alternative asset manager alleges mortgage lender’s disclosure was inaccurate and misleading

West Face says it covered its short position during a period in which it now believes that market prices of Home Capital shares were inflated due to incomplete public disclosures

The mortgage lender’s top priority is to grow its residential and commercial business lines to more normal and sustainable levels, CEO says

The turnover follows the departure last week of Greg Parker

CFO Brad Kotush will assume departing Greg Parker’s responsibilities

More than 88% of shareholders rejected a plan that would have seen Buffett’s Berkshire Hathaway acquire 23.9 million more shares for $246.7 million

The alternative lender favours Berkshire Hathaway’s bid, despite the advisory from ISS

The former Canaccord Genuity CFO joins the Toronto-based alternative lender on Friday

IIROC reaches settlement with three former All Group reps

Gerald Soloway, Robert Morton and Martin Reid have also been prohibited from serving as officers or directors for a period of time

The company reported that elevated expenses weighed down its bottom line, including $213.6 million pre-tax from its liquidity crisis earlier this year