July 26, 1991 |
Quotron Target of Suits: Two Canadian stock exchanges filed lawsuits accusing Quotron Systems Inc., a major distributor of financial information, of misusing data provided by the exchanges. The Toronto Stock Exchange and Montreal Stock Exchange sought a total of $53 million in damages and restitution for alleged breach of contract and fraud in use of market data from 1985 to 1989.
March 28, 1997 |
Canada's Toronto stock market, the country's largest, posted its biggest intra-day drop in almost a decade Thursday as shares in former market darling Bre-X Minerals Ltd. took a beating. The Toronto Stock Exchange's key 300 composite index plummeted 191.21 points to 5,931.63, its biggest loss since October 20, 1987, the day after so-called Black Monday, when it lost 220.90 points.
April 1, 1997
Canadian mining company Bre-X Minerals Ltd. asked the Toronto Stock Exchange to halt trading of its shares until further tests resolve the furor over its claims about a huge gold discovery in Indonesia. A class-action lawsuit was filed in New York on behalf of Bre-X investors, alleging that its executives sold shares before serious questions over the gold find sent the stock into a nose dive. . . . Republic Industries Inc. said Chairman H.
May 20, 1995 |
Labatt Seeks White Knight to Fight Takeover: The Canadian brewing company vowed to fend off a hostile $1.7-billion takeover by conglomerate Onex Corp., saying it is talking to several parties and expects a better offer to emerge. John Labatt Ltd.'s board was huddled in Toronto, kicking off what analysts believe is a frantic search for a white knight.
December 26, 1989 |
U.S. trading in the stock of Campeau Corp., which was halted Friday, did not resume today because the Toronto Stock Exchange was closed for a holiday, an official at the National Assn. of Securities Dealers said. Toronto-based Campeau disclosed Friday that its bankers believe it has technically defaulted on $2.34 billion in debt. The retailer's stock is traded on the Toronto exchange as well as on the U.S. over-the-counter market.
January 30, 1986 |
After a lengthy search with the aid of an executive headhunting firm, the American Stock Exchange said Wednesday that it has filled the eight-month vacancy in its presidency--by promoting from within. The Amex's new president is Kenneth R. Leibler, 36, who was previously the exchange's senior executive vice president for marketing, operations and finance. He succeeds Robert Birnbaum, who left last year to become president of the New York Stock Exchange.