Investigation Overview
February 22, 2017 (Shareholders Foundation) - An investigation on behalf of investors of HOME CAPITAL GROUP COM NPV (OTCMKTS:HMCBF) shares over potential securities laws violations by Home Capital Group Inc and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of HOME CAPITAL GROUP COM NPV (OTCMKTS: HMCBF) concerning whether a series of statements by Home Capital Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Toronto based Home Capital Group Inc. is a Canada-based holding company, which operates primarily through its subsidiary, Home Trust Company, that through its subsidiary, offers residential and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending and credit card products.
On February 10, 2017, Home Capital Group Inc. disclosed that the Ontario Securities Commission has reached the preliminary conclusion that Home Capital Group Inc. failed to meet its continuous disclosure obligations in 2014 and 2015 and served an enforcement notice on Home Capital Group Inc. The enforcement notice is related to Home Capital Groups disclosure in 2015 of the discovery that some information on loan applications had been falsified and the subsequent remedial taken in response.