ASC alleges illegal insider trading against Sherry Hagerty and Gary Hagerty
CALGARY, April 16, 2013 /CNW/ – Alberta Securities Commission (ASC)
staff have issued a Notice of Hearing alleging that Sherry Hagerty and
Gary Hagerty breached Alberta securities laws by engaging in illegal
insider trading in shares of former Calgary-based midstream oil and gas
company Provident Energy Ltd.
ASC staff allege that in late 2011, Sherry Hagerty told her husband Gary
Hagerty of the potential purchase of Provident Energy by Pembina
Pipeline Corporation, which was material information that had not been
publicly disclosed. ASC staff also allege that Gary Hagerty was in
possession of this information when he purchased Provident Energy
shares, and that Gary and Sherry Hagerty made misleading or untrue
statements to ASC investigators.
An appearance to set a date for a hearing in will be held on May 6,
2013, at 2:30 p.m. in the ASC Hearing Room on the 5th floor, 250 – 5(th) Street S.W., Calgary, Alberta.
The ASC is the regulatory agency responsible for administering the
province’s securities laws. It is entrusted to foster a fair and
efficient capital market in Alberta and to protect investors. As a
member of the Canadian Securities Administrators, the ASC works to
improve, coordinate and harmonize the regulation of Canada’s capital
SOURCE Alberta Securities Commission