Oh Noes! My Precious Ati

[Sputty]

http://www.cbc.ca/story/business/nat...ti_041018.html


ATI Technologies insider-trading case pushed back to March
Last Updated Mon, 18 Oct 2004 16:11:50 EDT
TORONTO - The hearing into insider trading allegations leveled against the chairman of ATI Technologies has been pushed back until March 29.

The Ontario Securities Commission rescheduled the main portion of the hearing, despite the objections of the OSC's enforcement branch, which wanted to begin presenting evidence later this week.



In Jan. 2003, the OSC accused several executives at graphics chip maker ATI Technologies, including founder and then-CEO K.Y. Ho, of benefiting to the tune of almost $8 million from illegal insider trading.


FROM Jan. 16, 2003: OSC accuses ATI Technologies execs of making millions from insider trading
The Ontario Securities Commission launched proceedings against Ho, his wife Betty Ho, ATI's former director of investor relations Jo-Anne Chang, her husband David Stone, ATI former marketing manager Mary de la Torre, and her husband Alan Rae. The group is accused of avoiding stock losses by selling shares in ATI before the company issued a profit warning in May 2000.

ATI is also alleged to have failed to disclose material information on a "timely" basis and of making misleading statements to the commission.

Ho resigned as CEO of ATI this summer, but he remains chairman and the main shareholder of the company. He has denied doing anything wrong.

The action against Ho was originally scheduled to proceed in February, but was pushed back to this week. A three-member OSC panel was to hear procedural motions on Monday and Tuesday, but evidence will not be offered until next year.

Lawyers for the company, Ho and the other accused pushed for the delay, arguing that the 15 days set aside over October and November would not be enough to deal with the case.

Written by CBC News Online staff