AMF Proceedings Does anyone have an update on the status of the alleged Breach of securities Act that AmF is initiating?
Perhaps Dalesio knows ?
Also as referenced below -what is meant by the reference to:
- "Request for a declaration of abusive conduct by the respondent, PyroGenesis Canada Inc."
Summary of PYRs news release on this and the AMF details I found online
The AMF has initiated administrative proceedings against Mr. Pascali, Alan Curleigh, who is a director of the Company, and the Company, for actions taken in connection with the 2018 Phoenix Transactions. The AMF alleges that Mr. Pascali was in breach of section 199.1(2) of the Securities Act (Qubec), that Mr. Pascali and the Company made misrepresentations in breach of sections 196 and 197 of the Securities Act (Qubec), that Mr. Pascali and the Company failed to comply with certain disclosure obligations under applicable securities legislation, and that Mr. Pascali and Mr. Curleigh failed to comply with their fiduciary duties as directors of the Company. The AMF is seeking administrative penalties totaling $4.20 million against Mr. Pascali, and a disgorgement order of $9.57 million to the AMF also from Mr. Pascali. The AMF is also seeking administrative penalties totaling $550,000 against the Company. Separately, the AMF is also seeking orders prohibiting Mr. Pascali and Mr. Curleigh to act as an officer or director of a reporting issuer for 5 years.”
PyroGenesis Provides Update on AMF Investigation | PyroGenesis Inc.
Case Number: 2023-021
Authority: Autorit des marchs financiers (AMF) - Financial Markets Authority
Applicants:
- Photis Peter Pascali
- Alan Curleigh
Respondent:
Law Firm:
- Osler, Hoskin & Harcourt, s.e.n.c.r.l./s.r.l.
Hearing Date and Time:
Details:
- Request for a declaration of ineligibility
- Request for a declaration of abusive conduct by the respondent, PyroGenesis Canada Inc.
- Type of Hearing: Full hearing
- Location: Paul Fortugno courtroom