Also suing @realrobcopeland & @jacquiemcnish: “Callidus and Catalyst last week sued Dow Jones & Co., the owner of The Wall Street Journal, and Journal reporters Rob Copeland and Jacquie McNish” https://t.co/KQJJifsANu
— Roddy Boyd (@RodBoydILM) November 15, 2017
The Globe and Mail, 8 November 2017
Callidus Capital Corp. has filed a lawsuit against a group of investors and borrowers in Canada and the United States for allegedly working in concert to drive down the price of the distressed-debt lender’s shares.
The Toronto-based company filed the lawsuit on Tuesday in an Ontario court. It is suing a group of investment firms – which it calls the “wolfpack conspirators” – that includes private-equity firm West Face Capital Inc., hedge fund Anson Group and several companies related to it, and ClaritySpring Inc.
Financial Post, 8 November 2017
Catalyst Capital Group Inc. has launched a lawsuit against Anson Group Canada, a privately held asset manager with operations in Canada and Texas, and Toronto-based private equity firm West Face Capital Inc., accusing them of participating in a “manipulative ‘short and distort’ campaign.”
The alleged target was publicly traded Catalyst subsidiary Callidus Capital Corp., claims the lawsuit, which dubs the Anson, West Face and several associated and unrelated individuals as “Wolfpack Conspirators.”
Callidus Capital, 2017
Callidus Capital Corporation (the “Company” or “Callidus”) today provided the statement below in response to media reports containing allegations regarding the Company and its majority shareholder, The Catalyst Capital Group Inc. (“Catalyst”).
The Wall Street Journal today published allegations about Callidus and Catalyst that are completely false. Callidus is particularly concerned that the Wall Street Journal chose to publish these allegations after a comprehensive briefing held with them on August 8, 2017. For example, as part of that meeting it was made clear that the treatment of the Catalyst guarantee for Callidus loans made to Xchange Technology Group was in accordance with all applicable accounting requirements. As well, full disclosure was contained in both Catalyst’s financial reports to its limited partners and through Callidus’ public disclosures on an ongoing basis. The accounting treatment and disclosure were entirely appropriate and there is no basis for allegations to the contrary, facts the Wall Street Journal chose to ignore.