Alberta Securities Commission accuses ex-Daylight CEO of insider trading
CALGARY – The Alberta Securities Commission is accusing the former CEO of Daylight Energy Ltd. of insider trading, along his ex-wife and her boyfriend.
The watchdog alleges Anthony Lambert bought shares in Daylight in August and September 2011 shortly before his company was acquired by Chinese firm Sinopec.
The $2.2-billion deal was not disclosed publicly until Oct. 9, 2011.
The ASC also alleges that Lambert’s ex-wife, Sandra Pierce, bought Daylight shares after Lambert tipped her off about the takeover.
And the commission says Pierce talked about the impending deal with her boyfriend, Sean Turner, who also bought Daylight stock.
An appearance to set a hearing date is scheduled for May 6 in Calgary. The allegations have not been proven.
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