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John Paulson speaks during the Sohn Investment Conference in New York, May 16, 2012. John Paulson scored a legal victory when a federal judge dismissed a lawsuit that charged the billionaire hedge fund manager failed to properly research an
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Market View debt crisis It's believed to be one of the largest settlements involving an auditor in Canadian history. The class-action had alleged that directors, officers, auditors and underwriters at the timber trader misled investors with its
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Getty Images/iStockphoto Gallery A CP Rail train Canadian Pacific Streetwise Activist shareholder Bill Ackman of Pershing Square Capital Management speaks to Canadian Pacific Railway Ltd. shareholders and analysts at a meeting in Toronto, Feb. 6,
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Market View The bull and bear bronze statue stands outside the stock market, Deutsche Boerse AG, in Frankfurt, Germany...TIP The controversial deal would see Ernst & Young pay $117-million to settle allegations from investors that it failed to
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Carey scrutinizes the margins of the markets for sharesleuth.com, which is majority-owned by the American billionaire Mark Cuban. Carey had been looking into Chinese reverse takeovers, specifically a firm called Telestone Technologies Corp., a
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Following the collapse of Sino-Forest's stock price in June, 2011, Chinese reverse takeovers (RTOs) curdled for investors...Last year, the Pittsburgh Tribune-Review examined about 125 Chinese reverse mergers and found 105 had either been delisted,
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Canada But if it did, the market regulator warned, it could seek up a total of up to $84-million, with between $7-million and $72-million in penalties that could relate to fraud. The OSC's allegations against the failed forestry company have not been
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Economy Euro zone Europe The proof of claim, filed in Ontario Superior court as part of the company's restructuring under the Companies' Creditors Arrangement Act, cites Mr. Horsley's employment agreement with TSX-listed Sino-Forest undertaken in
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High & Low Finance Sorting Out a Chinese Puzzle in Auditing Published: December 6, 2012 Imagine for a moment that you were auditing a company whose principal asset was trees that it would eventually cut down to sell the timber. Would you bother to
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Europe Economy Europe The challenge was closely watched by bankruptcy lawyers on Bay Street, as it tested recent changes to Canada's insolvency law and was expected to serve as a precedent for other auditors and underwriters involved with companies
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