Montréal – The Autorité des marchés financiers (AMF) confirms that it has withdrawn the penal proceeding launched on May 9, 2007 against Ghislain Morin for insider trading because of insufficient evidence.

Based on the evidence available to the AMF, it is unable to provide proof beyond a reasonable doubt as required in penal matters. The versions of facts given by witnesses appear to be contradictory, and the documents initially collected misled the AMF.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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