TORONTO, Sept. 27, 2012 /PRNewswire/ - Sino-Forest Corporation ("Sino-Forest" or the "Company") announced today that David Horsley has ceased to be employed by the Company.
Mr. Horsley was the Senior Vice President and Chief Financial Officer of the Company from October of 2005 until April of 2012. In April 2012 Mr. Horsley resigned as Chief Financial Officer, at the Company's request, following the receipt by the Company and certain of its former officers, including Mr. Horsley, on April 5, 2012, of "Enforcement Notices" from Staff of the Ontario Securities Commission. Enforcement Notices typically are issued by staff of the Commission at or near the end of an investigation, identify issues that have been the subject of investigation, and advise that staff contemplate commencing formal proceedings in relation to those issues.
On May 22, 2012, together with the Company and others, Mr. Horsley was named as a respondent in a proceeding commenced by staff of the Ontario Securities Commission.
Mr. Horsley continued at Sino-Forest after resigning as Chief Financial Officer of the Company until he ceased to be employed by the Company on September 27, 2012.
SOURCE Sino-Forest Corporation