Montréal - In a decision handed down on March 5, 2015, Judge Marco LaBrie of the Court of Québec, judicial district of Longueuil, acquitted Claude Parent1 and Clément Forget of charges brought against them by the Autorité des marchés financiers (the "AMF") in June 2013.
The AMF claimed that Clément Forget influenced or attempted to influence the market price or value of the securities of Clemex Technologies Inc. by means of unfair, improper or fraudulent practices. As for Claude Parent, the AMF claimed that he aided Clément Forget, by act or omission, in influencing or attempting to influence the market price or value of the securities of Clemex Technologies Inc.
The judge held that the AMF had not convinced him beyond a reasonable doubt that the defendants were guilty.
The AMF is appealing the decision before the Superior Court.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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1 The respondent Claude Parent should not be confused with Claude Parent, a financial planner and dealing representative (mutual fund dealer and exempt market dealer) attached to Fonds d'investissement FMOQ inc. and Société de gestion privée des Fonds FMOQ inc. (certificate 125988 and NRD 1662461).