RE:‘Several’ HCG directors served with OSC enforcement notices! The new notices mean OSC investigators are targeting not only the company but also senior officials within it. Home Capital declined to name the directors and officers involved, but said the OSC notice against them related to the company’s disclosure of its mortgage fraud investigation as well as “trades in the company’s shares.”
Last month, law firm Siskinds LLP filed a proposed class-action lawsuit on behalf of investors against Home Capital and some of its current and former executives, alleging the company failed to properly disclose the suspension of several brokers in late 2014 and early 2015.
HCG has struggled to recover from the fallout of its mortgage fraud revelations. Its shares closed at $27.74 on Tuesday, more than 40 percent below its 52-week high of $39.60 and well below its peak of $55 in 2014.