Philip hires new CFO from Asea Brown

Article Abstract:

Philip Services Corp., a scrap metal company based in Hamilton, Ontario, has named Phillip Widman as its new chief financial officer. Widman joins Philip from Norwalk, CT-based Asea Brown Boveri Inc. where he was vice-president and chief financial officer. He replaces Marvin Boughton, who left the company in May 1998 as part of a major managment shakeup that also led to the departure of the company's CEO and chairman. The management shakeup underscores the company's struggle to restore investor confidence that has been damaged when it announced hidden losses from unauthorized trading in its copper operations.

Comment:

Names Phillip Widman from Asea Brown Boveri as its new chief financial officer

Ontario, Scrap Metals, Recyclable Material Wholesalers, Scrap metal dealers, Philip Services Corp.

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Shareholders ask to add claim to Bre-X suit

Article Abstract:

Bre-X Minerals Ltd. shareholders has asked a court in Ontario to amend their statement of claim in a lawsuit filed against the company and the brokerages that recommended its shares by adding three paragraphs that charge the company of "fraud on the market." The lawsuit, which was filed in 1997, already charges Bre-X Minerals of negligent misrepresentation, breach of fiduciary duty, breach of contract fraudulent misrepresentation and breach of the Competition Act. Shareholders are pursuing the additional claim so that they will be able to have their lawsuit certified as class action.

Comment:

Shareholders ask court in Ontario to amend statement of claim in lawsuit vs company by adding claim of "fraud on the market"

Stockholder data, Mining & Extractive Industries, Mining, Bre-X Minerals Ltd.

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New law lets shareholders play hardball with firms

Article Abstract:

Business lawyer Wes Voorheis discusses about the launching of Bill 198 by plaintiffs' lawyers on behalf of ordinary retail investors.

Legal services, Officials and employees, Interview, Law firms, Voorheis, Wes

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