BCSC throws out charges against local finance exec

The BC Securities Commission (BCSC) has dismissed allegations that the former president and CEO of TSX Venture Exchange-listed Coltstar Ventures Inc. engaged in market manipulation.

The BC Securities Commission (BCSC) has dismissed allegations that the former president and CEO of TSX Venture Exchange-listed Coltstar Ventures Inc. engaged in market manipulation.

In a notice of hearing issued February 28, 2012, BCSC staff alleged that Damien Reynolds entered two orders in March 2010 to sell shares in Coltstar Ventures Inc., and in doing so, created an artificially low price in Coltstar's shares.

Reynolds was president and CEO of Coltstar from March 2010 to January 2012.

In a decision announced January 23, a BCSC panel dismissed the allegations, stating that "the evidence did not establish that either of Reynold's…trades resulted in, or contributed to, an artificial price for Coltstar shares."

jwagler@biv.com

@JennyWagler_BIV

comments powered by Disqus

Also Read

More From Law & Politics

Michael Patrick Lathigee and Earle Douglas Pasquill perpetrated frauds, according to the BCSC

Read Article

Gregor Robertson did not meet his goal of ending “street homelessness” by 2015, the Vancouver mayor has conceded 

Read Article

Petaquilla Minerals facing a litany of financial woes

Read Article

Vancouver taxi companies have announced that they are dropping their lawsuit against rideshare service company Uber Canada 

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×