The Autorité des marchés financiers (AMF) on Wednesday filed a lawsuit against a former vice-president of the Caisse de depot et placement du Québec for insider trading in connection with the distribution company of Colabor food products.
Justin Méthot, Vice-President of Private Equity until April 2020, is accused of having communicated privileged information on the food distributor, including the Caisse is a shareholder.
The AMF also filed seven counts against Jean-François Neault, who allegedly passed it on to several other people before the official announcement, including Claude Gariépy, the other accused in that case. The latter, after learning the information, would have sold all of his common shares of Colabor, thus avoiding a loss due to the decline in the company's share price following the announcement.
Following the recording of a plea by the defendants, the court will have to rule in the light of the evidence that will be presented before it.
Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my firstname.lastname@example.org 1-800-268-7128