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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Karl Zetmeir who wrote (28133)5/14/1999 8:22:00 AM
From: Karl Zetmeir  Read Replies (1) of 28369
 
If anyone *ever* listens to a Canadian brokerage let alone gives them one shred of credibility ... If they ever lend one ounce of credibility to Kilbourne Engineering ... they get exactly what they deserve ... nothing but unmitigated pump and dump bullshit!

Globe says court rules brokerages can't be sued over Bre-X

Bre-X Minerals Ltd BXM
Shares issued 219,103,330
Fri 14 May 99 In the News
Also SNC-Lavalin Group Inc (SNC)
The Globe and Mail reports in its Friday, May 14, edition that shareholders
of failed Bre-X Minerals will be able to sue the company and its insiders,
but will not be able to go after brokerage firms and analysts who
recommended the shares, an Ontario court ruled yesterday. The Globe's Janet
McFarland writes that Mr. Justice Warren Winkler agreed to certify a
class-action lawsuit against Bre-X and its officers. However he excluded
seven named brokerage firms, including Nesbitt Burns and ScotiaMcLeod. The
judge also excluded SNC-Lavalin Group and related companies that conducted
an independent analysis of the gold resources for Bre-X. The decision is a
blow to shareholders, leaving them suing a handful of individuals and a
bankrupt company, but not the brokerage firms with deep pockets. Lawyer
Harvey Strosberg, who filed the class-action suit, says he will appeal the
decision. The case is the first in Canada in which shareholders attempted a
class-action suit against brokerage firms, arguing they received bad advice
to invest in Bre-X as clients of the firm.
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