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

    Harper Makes Surprise Visit To Iraq, Meeting Officials, Tour Close To Front

    Harper Makes Surprise Visit To Iraq, Meeting Officials, Tour Close To Front
    ERBIL, Iraq — Stephen Harper got to see the no man's land of northern Iraq on Saturday as questions emerged about whether Canadian special forces soldiers have curtailed trips to the frontline in the aftermath of a friendly fire death almost two months ago.

    Harper Makes Surprise Visit To Iraq, Meeting Officials, Tour Close To Front

    Downtown Montreal The Scene Of Tense Clashes Between Police And Protesters

    MONTREAL — Downtown Montreal was plunged into familiar chaos for a few hours on Friday night as several hundred protesters, many wearing masks, clashed with police who fired off tear gas to try to disperse them.

    Downtown Montreal The Scene Of Tense Clashes Between Police And Protesters

    No Winning Ticket For $50-million Jackpot In Friday Night's Lotto Max Draw

    No Winning Ticket For $50-million Jackpot In Friday Night's Lotto Max Draw
    TORONTO — No one has the winning ticket for the $50-million jackpot in Friday night's Lotto Max draw.

    No Winning Ticket For $50-million Jackpot In Friday Night's Lotto Max Draw

    Canada Sending DART to Earthquake-Ravaged Nepal

    Canada Sending DART to Earthquake-Ravaged Nepal
    OTTAWA — The federal government says Canada's Disaster Assistance Response Team will be deployed immediately to earthquake-stricken Nepal.

    Canada Sending DART to Earthquake-Ravaged Nepal

    RCMP Ask For Tips On Timeline Of Man Accused Of Three Counts Of Murder In Burns Lake

    RCMP Ask For Tips On Timeline Of Man Accused Of Three Counts Of Murder In Burns Lake
    BURNS LAKE, B.C. — Mounties are asking for help establishing a timeline for the actions of a man accused of three counts of second-degree murder in Burns Lake, B.C.

    RCMP Ask For Tips On Timeline Of Man Accused Of Three Counts Of Murder In Burns Lake

    60-Year-Old Woman Struck In Vancouver Grocery-Store Parking Lot Dies In Hospital: Police

    60-Year-Old Woman Struck In Vancouver Grocery-Store Parking Lot Dies In Hospital: Police
    VANCOUVER — A 60-year-old Vancouver woman who was hit by a pickup truck in a grocery-store parking lot has died of her injuries. Police say the pedestrian was walking along a foot path on Monday afternoon when she was struck.

    60-Year-Old Woman Struck In Vancouver Grocery-Store Parking Lot Dies In Hospital: Police