Links in the News:
Sept 15 2012: Platinum Equities faces ASC hearing -Calgary Herald
Sept 14 2012: Alberta Securities Commission alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc. - ASC site
Sept 14 2012: Calgary firm raised $58-million while misrepresenting facts to investors: regulator – The Globe and Mail
Sept 14 2012: Alberta regulator accuses real-estate syndicator of illegal distributions – Canadian Business
Sept 14 2012: ASC alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc. – Sacramento Bee
Sept 12 2012 –Alberta Securities Commission – Notice of Hearing on Platinum Equities –Alberta Securities Commission
Sept 10 2012:Class-action lawsuit launched against Calgary company - CBC
Sept 10 2012:INVESTORS MEET OVER CLAIMS OF BEING MISLEAD IN $160M DEAL – Sun News
Sept 9 2012:Suit alleges building-management firm took at least $160 million from nearly 2,200 people - The Province
Key Dates:
Sept 12 2012: Alberta Securities Commission alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc.
Sept 6 2012: Class action suit filed against Platinum Equities, involving key figure from Concrete Equities. The players involved include Dave Humeniuk, who has been sanctioned by the Alberta Securities Commission, and carries a life time ban for offences related to the Real Estate Commission of Alberta. Mr. Humeniuk was sanctioned by Alberta Securities Commission (ASC) in January 2012, for not disclosing this ban in Offering Memorandums prepared while he was involved with Concrete Equities,Shariff H. Chandran, who has been convicted for misrepresenting himself as a realtor, and Riaz Mamdani. (SHARIFF H. CHANDRAN, also known as S.H. Chandran, Sri Chandran and Srinivansan Chandran)
Class Action Lawsuit Against Platinum Equities
June 25, 2012, McGuigan Nelson LLP filed an Action in the Court of Queen’s Bench of Alberta to advance a claim on behalf of all investors and/or limited partners and/or shareholders in the projects listed in the link below. If you were an investor in one or more of those projects, the Statement of Claim contemplates your investment loss and will be advanced on your behalf. They have separate sub-classes in the lawsuit for each investment, which is generally listed in the link below. The Statement of Claim names many more parties, to incorporate the various corporations at issue with each investment. This is being advanced upon a class action basis, which further contemplates sub-classes for each limited partnership.
