The Commission temporarily suspended trading in the securities of the 17 companies because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning their status as publicly-traded companies. Specifically, certain persons appear to have either: 1) usurped the identity of defunct or inactive publicly traded corporations, initially by incorporating new entities using the same names as each of the defunct entities, or 2) reinstated defunct publicly traded corporations without authorization
Well, at least its gone full circle and the right authorities have now taken quick action to prevent further fraud. If the Directors of this company are guilty then I hope there is severe jail time awaiting them. Part of the fault are the Provincial laws of Quebec which seem to relish in the Eighteen century laws of France which in this day and age are to say the least are repugnate!! Let us hope that Federal Government Law follows through to find out the truth as to what happened in the actions of this Company and hands out appropriate punishment if indeed there is organised fraud.
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