Posted on 06/09/06
Imax in sights of investor class action
Giant-screen movie pioneer Imax Corp. may soon distinguish itself for another, less-auspicious first -- a legal one.The troubled Mississauga-based company, currently the subject of an informal inquiry by the U.S. Securities and Exchange Commission over its revenue-accounting practices, yesterday became the target of a potential $200-million Canadian class-action lawsuit that could become the first test of a bold new Ontario law aimed at making it much easier for shareholders to sue companies and their executives.
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