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20

Canada’s Subprime Lender Plummets After Being Charged With Misleading Investors

By Tony Seruga

Mortgage provider down as much as 14%, most since July 2015
Stock downgraded and share-price forecasts cut by analysts

Home Capital Group Inc., the troubled Canadian alternative-mortgage lender targeted by short-sellers, fell the most in almost two years after a financial regulator alleged that executives misled investors and broke securities laws.

Shares of the Toronto-based company dropped as much as 14 percent Thursday, the most since July 2015. The stock fell after the Ontario Securities Commission alleged Wednesday night that the company’s former officials failed to satisfy disclosure requirements, made “materially misleading statements” and failed to comply with other securities rules…

Canada’s Subprime Lender Plummets After Being Charged With Misleading Investors

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