Managers and directors of the Crocus Investment Fund deliberately delayed writedowns and kept some investment values unjustifiably high to help sell more shares, according to a damning report by the Canadian fund's court-appointed receiver. The report also said payment of legal expenses incurred by the former directors and managers who are defendants in a class action lawsuit should be discontinued.
November 19, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Managers and directors of the Crocus Investment Fund deliberately delayed writedowns and kept some investment values unjustifiably high to help sell more shares, according to a damning report by the fund’s court-appointed receiver.
The report by Russ Holmes of Deloitte and Touche, Crocus’s receiver, was unsealed Thursday by Manitoba Court of Queen’s Bench Judge Deborah McCawley.
Presented by BigVoodoo
WIPL is the original global forum facilitating women-to-women exchange on leadership and legal issues.
The New England Legal Awards serves as a testament to the outstanding contributions and achievements made by legal professionals.
Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
Location : This role could be located in any number of cities that we operate in other than Oakwood Georgia. Ideal candidate would reside in...
Wisniewski & Associates, LLC seeks attorney licensed in NJ and NY with 2-5 years experience for its multi-state real estate, land use, ...
New York boutique law firm currently seeking an attorney with substantive knowledge and at least three years experience litigating in New Yo...
