Sino-Forest Hit With Canadian Securities Action

Law360, New York (April 9, 2012, 4:25 PM EDT) -- The Ontario Securities Commission has nailed Sino-Forest Corp. with an enforcement notice related to a temporary cease-trade order the agency had issued against it in August, Sino-Forest announced Monday, as the beleaguered and bankrupt timber company struggles to right itself.

“The enforcement notice received by Sino-Forest alleges conduct contrary to Sections 122 and 126.1 of the Ontario Securities Act and contains allegations of a serious nature consistent with the recitals to the temporary cease-trade order,” the company said in a statement. “The enforcement notice raises conduct...
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