ASC Finds Illegal Insider Trading Of Edmonton-based Eveready Inc. Shares
CALGARY, Feb. 14, 2013 /CNW/ - The Alberta Securities Commission (ASC) has ruled that John (Bert) Holtby, Dale Holtby, John Shepert, Kenneth Burdeyney and Randall Kowalchuk engaged in illegal insider trading of Edmonton-based Eveready Inc. shares.
The ASC panel also found that:
- Bert Holtby, Dale Holtby and Kenneth Burdeyney engaged in illegal informing (tipping) relating to the proposed acquisition of Eveready by Clean Harbors, Inc. before it was publicly disclosed;
- Bert Holtby, Dale Holtby and Gayle Walton illegally recommended or encouraged others to purchase Eveready shares before the proposed acquisition was publicly disclosed; and
- Bert Holtby attempted to conceal or withheld information reasonably required for an ASC investigation.
The ASC panel ruled that illegal insider trading, informing, and recommending or encouraging "are among the most serious of capital-market misconduct" and that such misconduct "not only is patently unfair to legitimate investors but also can have far-reaching effects by seriously undermining investor confidence in the fairness of our capital market." The ASC panel found that this misconduct is conduct contrary to the public interest. The ASC panel further ruled: " Bert Holtby used a nominee account . . . to trade during Eveready-imposed blackout periods and to engage in illegal insider trading. Bert Holtby also attempted to conceal or withhold information reasonably required for Staff's investigation. This behaviour, with its hallmarks of deception, is also conduct contrary to the public interest."
The ASC panel has set dates for ASC staff and the named parties to provide submissions on what, if any, orders for sanctions and costs ought to be made against the named parties.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV