NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Home Capital Group Inc. (OTCMKTS:HMCBF) concerning possible violations of federal securities laws.
On February 10, 2017, Home Capital Group disclosed that it had received an enforcement notice from the Ontario Securities Commission (“OSC”). The notice indicated that OSC has reached the preliminary conclusion that Home Capital Group “failed to meet its continuous disclosure obligations” in 2014 and 2015. Then on April 19, 2017, the OSC alleged that CFO Robert Morton and two former CEOs of Home Capital, Gerald Soloway and Martin Reid, had unlawfully misled shareholders by waiting until after the May 2015 filing of its 2014 annual report and its first-quarter 2015 report to disclose the fraudulent activities performed by 45 of its brokers. Indeed, the OSC claims the Company was aware of these activities as early as February 10, 2015 and lied about the cause of the decline in lending. To obtain additional information, go to:
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