04:56:19 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Montreal
Symbol BMO
Shares Issued 642,318,865
Close 2015-10-02 C$ 72.49
Market Cap C$ 46,561,694,524
Recent Sedar Documents

BMO denies wrongdoing in suit from Panamanian client

2015-10-02 10:41 ET - Street Wire

Also Street Wire (C-BAT) Batero Gold Corp

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by Mike Caswell

BMO Nesbitt Burns Inc. and one if its senior vice-presidents, David Zadak, deny that they did anything wrong in acquiring shares of a TSX Venture Exchange company for a Panamanian client. They say the client was a sophisticated investor who had requested the purchase. They also say that the client paid for the shares and received monthly statements that it did not dispute.

BMO and Mr. Zadak are responding to a lawsuit filed in the Supreme Court of British Columbia on Aug. 10, 2015, by a Panamanian company called Tiffali Corp. The suit complained that Mr. Zadak had directed the purchase of 2.5 million shares of TSX-V listing Batero Gold Corp. in Tiffali's account. According to the suit, Tiffali had only agreed to buy one million shares. Tiffali claimed to have incurred substantial losses on the purchase, as it bought the stock at prices of $1.327 and $1.3598. (Batero was last at 7.5 cents.)

David Zadak
BMO
David Zadak

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