Close X
Tuesday, November 26, 2024
ADVT 
National

B.C. Securities Regulator Dismisses Fraud Allegations Against Jon Carnes

Darpan News Desk The Canadian Press, 15 May, 2015 11:03 AM
    VANCOUVER — British Columbia's securities regulator has dismissed fraud allegations against a hedge fund manager and financial blogger accused of making claims about Silvercorp Metals Inc. (TSX:SVM).
     
    Jon Richard Carnes, who ran the "Alfred Little" financial blog, was accused in December 2013 of anonymously publishing a negative report about Silvercorp aimed at driving down its share price and then profiting from a short position he held.
     
    In its statement of allegations, staff at the British Columbia Securities Commission alleged Carnes posted a report that contained numerous false statements and omitted to state certain information in relation to a mining expert's report about Silvercorp.
     
    However, in a decision issued Thursday, a BCSC panel dismissed the fraud allegations, saying none of the statements or omissions constitute a prohibited act for the purpose of fraud.
     
    Silvercorp is a mining company and reporting issuer with its head office in Vancouver. It has business operations in China, and its securities trade on the Toronto Stock Exchange and the New York Stock Exchange.

    MORE National ARTICLES

    Bollywood Goes Gaga Over Indo-Canadian NBA Star Sim Bhullar Who Made History

    Bollywood Goes Gaga Over Indo-Canadian NBA Star Sim Bhullar Who Made History
    As said by Priyanka, with a towering personality Sim Bhullar stands tall, while she and Ranveer look tiny in front of him. Priyanka even pulled out a chair and tried to match height with him.

    Bollywood Goes Gaga Over Indo-Canadian NBA Star Sim Bhullar Who Made History

    Two People In Hospital Following Bloody Altercation In Abbotsford

    Two People In Hospital Following Bloody Altercation In Abbotsford
    Abbotsford police say they received multiple calls about a loud altercation underway in a home (on Crescent Way near Switzer Avenue) shortly before 3 a.m.

    Two People In Hospital Following Bloody Altercation In Abbotsford

    Alaska Airlines Flight Makes Emergency Landing At Vancouver Airport

    Alaska Airlines Flight Makes Emergency Landing At Vancouver Airport
    Alaska Airlines Flight 76 was en route between Juneau, Alaska, and Seattle, Wash., when problems arose with one of the plane's two electrical systems.

    Alaska Airlines Flight Makes Emergency Landing At Vancouver Airport

    Search For Missing Family Underway In Wilderness North Of Kamloops

    Search For Missing Family Underway In Wilderness North Of Kamloops
    KAMLOOPS, B.C. — A backcountry search is underway for a missing family who are believed to have gone off-roading north of Kamloops, B.C.

    Search For Missing Family Underway In Wilderness North Of Kamloops

    Prisoner Charged After Alleged Cellblock Attack On B.C. Deputy Sheriff

    Prisoner Charged After Alleged Cellblock Attack On B.C. Deputy Sheriff
    KAMLOOPS, B.C. — Charges have been laid against a prisoner after an alleged attack on a deputy sheriff in Kamloops, B.C.

    Prisoner Charged After Alleged Cellblock Attack On B.C. Deputy Sheriff

    Vancouver Marijuana Dispensaries Vary On Rules For Who Can Buy Pot

    Vancouver Marijuana Dispensaries Vary On Rules For Who Can Buy Pot
    VANCOUVER — Don Briere stands behind the counter at Weeds Glass and Gifts in downtown Vancouver, surrounded by shelves of multicoloured pipes and clear boxes overflowing with fragrant B.C. bud.

    Vancouver Marijuana Dispensaries Vary On Rules For Who Can Buy Pot