Decisions and Freeze and cease trade orders Securities

Montréal – In a decision handed down on August 8, 2008, Judge Marc David of the Québec Superior Court dismissed an appeal filed by Claude Lavigne in respect of the decision dated January 10, 2007 by Québec Court Judge Jean-Pierre Bonin.

On January 10, 2007, Judge Jean-Pierre Bonin found Claude Lavigne guilty on the 31 counts brought against him by the Autorité des marchés financiers (AMF) for violating the Québec Securities Act (the "Act"):

  • by assisting, through an act or omission, Club d’investissement HT, Club d’investissement HT 101, Club d’investissement HT 102, Club d’investissement HT 103, Club d’investissement HT 105 and Club d’investissement HT 106 in making a distribution of a form of investment governed by the Act, namely, shares in these clubs, without a prospectus approved by the regulatory authority.

Claude Lavigne, who was a director and the president of these entities, was ordered to pay a fine of $155,000, plus costs, for the 31 counts.

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

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