Ontario Court of Justice finds John Bernard Felderhof not guilty

TORONTO - Judge Peter Hryn of the Ontario Court of Justice today found John Bernard Felderhof not guilty of four counts of insider trading and not guilty of four counts that he authorized, permitted or acquiesced in Bre-X issuing press releases in violation of Ontario securities law. Judge Hryn also found that section 122(3) of the Securities Act did not violate the Charter of Rights and Freedoms.

“These were serious charges and it was appropriate to bring them before the Court. We will review the decision and consider our next steps,” said OSC Chair David Wilson. "The OSC considers each case on its merits and determines the best course of action. This result will in no way deter us from continuing to investigate and prosecute alleged breaches of our Act.”

A copy of Judge Hryn’s decision is available through the Ontario Court of Justice.