Looks like Imax (IMX.TO) is currently the subject of an informal inquiry by the U.S. Securities and Exchange Commission over its revenue-accounting practices, yesterday became the target of a potential $200-million Canadian class-action lawsuit that could become the first test of Ontario’s new Bill 198 law aimed at making it much easier for shareholders to sue companies and their executives. Here is the article on Globe Investor.
Here at Q4 Web Systems we are watching this very closely. The reasons being Q4 Record automatically records all of a company’s disclosure on the web and can be used to help defend companies in the event of legal action such as this.
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