January 28, 2014

Montréal - On November 29, 2013, Madam Justice Marie-France Bich of the Québec Court of Appeal denied the application filed by the Autorité des marchés financiers ("AMF") to appeal a Superior Court decision in the matter of Paul Gagné.

The decision dismissed the appeal filed by the AMF following a motion for a suspension in proceedings allowed by the judge in first instance of the Court of Québec.

Further to a proceeding for interference launched by the AMF in November 2006 against Paul Gagné, the Court in first instance ordered a suspension in proceedings on grounds that the delay incurred between the alleged facts and the accusation against Mr. Gagné prevented him from presenting a full and complete defense. The decision is now final.

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

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