investigation into activities, business of Sino-Forest, subsidiaries, management. • TRE CN “appears” to have engaged in significant non-arm’s length transactions which may have been contrary to OSC laws • TRE CN and certain officers, directors appear to have misrepresented revenue and/or exaggerated timber holdings by providing information to public in documents required to be filed or furnished under OSC laws which may have been false or misleading • TRE CN’s officers and directors including CEO Chan “appear” to be engaging or participating in acts, practices or course of conduct related to its securities which it and/or they know or reasonably ought to know perpetuate a fraud • OSC orders 5 TRE CN executives, including CEO, to resign • NOTE: Richard Chandler’s Mandolin Fund Pte raised stake to 18% (largest shrholder) on 8/5; other top holders include Davis Selected Advisers w/ 13% stake, Wellington Mgmt 12%, Ivy Management Inc. 6.1%, Hartford Investment Mgmt 5%, Capital Research Global 4.4%, ADS Holdings 2.1% • NOTE: TRE CN halted in Toronto; SNOFF down as much as 60% to $1.90-shr
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