RE: RE: OSC actually looking into this? While I applaud the shareholders that are trying to do something and gain some value for us suffering minorities, I suspect the reality is that disappointment lies at the end of efforts invested with the OSC. One need look only as far as the blatant T/O of CMM by WTG for a recent example.
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A shareholder group was formed, sought legal advice and found numerous "problems" with the process and with WTG's handling of the matter. Numerous pleas to every possible regulator resulted in nothing. Bottom line: when "problems" were found in the process the regulators contacted the company and pointed out the errors and gave them appropriate time to fix or remedy the errors. This is, I believe, how the "oversight" process works. So WTG esentially screwed up big time in numerous ways, but was given a "do over" by the regulators.
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So appeals to the OSC over HRG and cronnies failing to release information timely.... that should result in a harsh letter from the regulators, a slap on the wrist, publication of the back info that should have been public noticed and a "promise" from HRG to not do it again.
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Now I know many investors would like to see the regulators hit the Management and BOG with some kind of punative action, something aking to a goose with a cattle probe, but it just ain't gunna happen. At the worst, these efforts will prolly be an ankle-bitting irritation and create more billable hours for HRG's CA Solicitors.
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It is a shame that there isn't some kind of "points system" for these regulatory violations: just like a driver's license, too many points and you loose your rights, car or company? Sigh. Now THAT might clean things up?