Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Friday, May 19, 2006
Legal Charges against Former Royal Group Director Sorbara Dropped
Former Royal Group Technologies (NYSE:RYG) Director Greg Sorbara has dodged a legal bullet when criminal proceedings against him were dismissed. The question does remain. What and when did he know? Royal Group had purchased real estate from the Sorbara family while Greg Sorbara was on the board and audit chairman. The real estate deal became a debacle and many cannot understand why it was done in the first place as it had nothing to do with Royal Groups business. Civil proceedings may be in order. This is a governance and common sense disaster. Still does not pass the smell test.