Le Lézard
Classified in: Business
Subjects: LAW, AVO

West Face Responds to Home Capital Press Release


TORONTO, Nov. 28, 2017 /CNW/ - West Face Capital Inc. ("West Face") has reviewed the press release issued this morning by Home Capital Group Inc. ("Home Capital") and confirms that a draft statement of claim was provided to Home Capital.  The statement of claim has not been filed. 

The Ontario Securities Commission commenced proceedings against Home Capital in April 2017 in respect of the incompleteness of Home Capital's disclosure.  Home Capital settled that proceeding with the Ontario Securities Commission and also settled a related class action this past summer.  West Face elected to opt out of that settlement and raised its claim with Home Capital directly.   Home Capital determined to respond publicly.

West Face was short shares of Home Capital from April 2013 to April 2015, and has not traded shares of Home Capital since that time.  West Face covered its short position during a period in which West Face now believes that market prices of Home Capital shares were inflated due to incomplete public disclosures by Home Capital.  West Face acted alone in its short position and did not act in concert with any other short sellers.

About West Face Capital Inc.

West Face Capital Inc. is one of Canada's leading alternative investment managers combining control-through-distressed, high-yield, negotiated finance, proactive equity, and private equity activities. West Face's capabilities are underpinned by a seasoned multi-disciplinary investment team, proprietary origination channels, deep sector expertise, and the ability to address investment targets in domestic and international markets.

SOURCE West Face Capital Inc.


These press releases may also interest you

at 18:17
GERDAU S.A. hereby announces that the Form 20-F related to the fiscal year ended December 31, 2023 was filed with the U.S. Securities and Exchange Commission (SEC) at http://sec.gov and with the Securities and Exchange Commission of Brazil (CVM) at...

at 18:15
Americas Gold and Silver Corporation ("Americas" or the "Company"), a growing North American precious metals producer, reports consolidated financial and operational results for the year ended December 31, 2023. This earnings release should be...

at 18:15
Westhaven Gold Corp. is pleased to announce that it has closed the final tranche of the non-brokered private placement announced on February 20, 2024. Westhaven has issued a total of 7,926,182 common shares that qualify as "flow-through shares" of...

at 18:15
The acquisition solidifies ValeU Group as one of the premier firms in the nation offering Fortune 500 companies and smaller...

at 18:15
Greenberg Traurig Senior Vice President, Shareholder, and Chief Diversity, Equity & Inclusion (DEI) Officer Nikki Lewis Simon was a panelist during the National Association...

at 18:03
Revenue Revenue for the year was $238.5, down $1.4 from sales of $239.9 in 2022. The Company's  sales were flat when compared to 2022 and 2021 included a fifteen month period due to the accounting change from September 30 to December 31. Twelve-month...



News published on and distributed by: