Publication of judgement ends brings litigation to an end
Proposed settlement to include mix of cash and shares
Claim filed against four fund firms
Allegations of dishonesty withdrawn
The Autorité des marchés financiers yesterday launched a $94 million lawsuit against Vincent Lacroix, the founder of the Norbourg group of companies, accusing him of misappropriating millions from the Montreal-based money management firm.Quebec’s main securities regulator is claiming $84 million from Lacroix for losses incurred by investors and $10 million in punitive damages. The AMF […]
Impossible to know the size of any future settlements, S&P warns
No admission of wrongdoing
Royal Bank of Canada announced today that it has reached an agreement to settle its part of the so-called “MegaClaims lawsuit” brought by Enron Corp. against RBC and a number of other financial institutions. The bank says the terms of the agreement reflect RBC’s minor role in the dispute.Under the agreement, RBC will pay Enron […]
Alleges senior partner was active participant in investment scheme
Says small claims court judge erred in dismissing the case