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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.

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    Newfoundland And Labrador Raises Taxes, Fees In Election Year Budget

    Newfoundland And Labrador Raises Taxes, Fees In Election Year Budget
    ST. JOHN'S, N.L. — Taxpayers in Newfoundland and Labrador are going to pay more as the provincial government looks for ways to cope with a downturn in oil and commodity prices in the budget it tabled Thursday.

    Newfoundland And Labrador Raises Taxes, Fees In Election Year Budget

    NDP Ad Promotes Child Care Plan, Mulcair As Father, Grandfather

    OTTAWA — Federal New Democrats are bringing out a new ad that gives glimpses into Tom Mulcair's personal life. The online ad is ostensibly aimed at promoting the party's $15-a-day national child care plan.

    NDP Ad Promotes Child Care Plan, Mulcair As Father, Grandfather

    Bell Won't Release Internal Report On Journalistic Independence At CTV

    Bell Won't Release Internal Report On Journalistic Independence At CTV
    TORONTO — An internal report on the journalistic independence of staff at CTV News will not be released to the public, says George Cope, the head of Bell Media's parent company BCE Inc.

    Bell Won't Release Internal Report On Journalistic Independence At CTV

    B.C. Didn't Infringe On Teachers' Contract Rights On Class Size: Appeal Court

    B.C. Didn't Infringe On Teachers' Contract Rights On Class Size: Appeal Court
    VANCOUVER — British Columbia's highest court has ruled the province did not violate teachers' charter rights, reversing two lower-court decisions in favour of a union that has fought for class size and composition clauses in its contracts.

    B.C. Didn't Infringe On Teachers' Contract Rights On Class Size: Appeal Court

    Canadian Team Scouts Nepal Hinterlands To Plan Aid And Find Stranded Canucks

    Canadian Team Scouts Nepal Hinterlands To Plan Aid And Find Stranded Canucks
    OTTAWA — Government ministers say members of a Canadian team are moving out from the Nepalese capital of Kathmandu on a reconnaissance mission in the earthquake-ravaged hinterlands.

    Canadian Team Scouts Nepal Hinterlands To Plan Aid And Find Stranded Canucks

    Former Newspaper Tycoon Won't Get A Supreme Court Hearing In Tax Appeal Case

    OTTAWA — Former newspaper baron Conrad Black has lost his last effort to shield million of dollars from the Canadian taxman.

    Former Newspaper Tycoon Won't Get A Supreme Court Hearing In Tax Appeal Case