Allegations of dishonesty withdrawn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
Alleges Industrial Alliance interfered with purchase
Awards Perelman US$850 million in damages
Investment bank says it was denied a fair trial