Newspaper article The Canadian Press

Home Capital Benches Two Key Players Facing Ontario Watchdog's Allegations

Newspaper article The Canadian Press

Home Capital Benches Two Key Players Facing Ontario Watchdog's Allegations

Article excerpt

Home Capital benches two key players

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TORONTO - Home Capital Group (TSX:HCG) is benching two of the key figures at the centre of allegations filed against the mortgage lender last week by Ontario's securities watchdog.

The Toronto-based company says its current chief financial officer, Robert Morton, will be assigned new responsibilities after first-quarter results are filed next month.

It also says Home Capital founder Gerald Soloway, who was formerly the company's chief executive officer, will step down from the board of directors once a replacement is found.

A company spokesman says there's a short list of candidates to replace Soloway but materials for the annual shareholders meeting have already been mailed so he'll run for re-election and then resign when a replacement is found.

Morton, Soloway and former CEO Martin Reid are facing allegations of misleading Home Capital's shareholders through financial statements and conference call comments in 2015. …

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