TORONTO (Reuters) – Billionaire investor William Ackman turned up the heat on Allergan Inc. on Thursday when he accused the Botox maker’s board of misleading investors to fend off a hostile takeover bid from Valeant Pharmaceuticals.
Ackman, whose hedge fund Pershing Square Capital Management is Allergan’s biggest shareholder, told reporters that his lawyers had seen documents that show Allergan’s board knowingly released misleading statements about Valeant.
TORONTO (Reuters) – Accounting firm Ernst & Young LLP [ERNY.UL] agreed on Tuesday to an C$8 million ($7.2 million) voluntary payment with Canada’s biggest securities regulator over its audits of Sino-Forest Corp [SCLC.UL] and another China-focused company.
Ernst & Young, which has already paid C$119 million to settle civil lawsuits in the two cases, did not admit to any wrongdoing in the no-contest settlement, which was approved by the Ontario Securities Commission (OSC).
TORONTO, Sept 29 (Reuters) – TMX Group Ltd named Lou
Eccleston as its new chief executive officer, the Toronto Stock
Exchange operator said on Monday, after a lengthy global search
to replace retiring CEO Tom Kloet.
Eccleston left McGraw Hill Financial in July. He
had most recently been president of the company’s S&P Capital IQ
unit, a real-time data provider, and chairman of index unit S&P
Dow Jones Indices.
TORONTO (Reuters) – Canada’s broadcast regulator said on Monday it will ignore evidence from Internet-based video providers Netflix Inc and Google Inc when making new rules for television after the companies refused to hand over some data.
In a terse exchange at a regulatory hearing earlier this month, the Canadian Radio-television and Telecommunications Commission (CRTC) demanded Netflix provide details about its Canadian operations or risk losing its exemption from rules that govern domestic broadcast distributors.
TORONTO (Reuters) – BlackBerry Ltd (BB.TO: Quote, Profile, Research, Stock Buzz) (BBRY.O: Quote, Profile, Research, Stock Buzz) reported a smaller quarterly loss on Friday and flashed encouraging signals about its hard-pressed smartphone business as well as its software and services sales, spurring a 7 percent jump in its shares.
The Canadian company, a smartphone pioneer pushed to the margins by Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPhone and devices running Google Inc’s (GOOGL.O: Quote, Profile, Research, Stock Buzz) Android software, is now focusing more on software and services than on hardware as it works through a drawn-out turnaround.