Trading based on privileged information - AMF launches penal proceedings against Carl Larivière


Montréal - The Autorité des marchés financiers (the "AMF") has launched penal proceedings against Carl Larivière, former corporate controller of TransForce Inc.

The AMF intends to show that Carl Larivière bought shares in Contrans Group Inc. when he had privileged information, namely, that all the company's shares would be bought by TransForce Inc.

The AMF also claims that Mr. Larivière recommended that four family members buy shares of Contrans Group Inc.

Mr. Larivière is charged with a total of five charges, including one count for trading in securities and four counts for recommending that a person trade in securities of a reporting issuer when he had privileged information. He could face a minimum fine of $36,592.

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

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