Graphics chipmaker ATI Technologies acknowledged Thursday that it is being investigated by the Ontario Securities Commission for possible insider trading and other violations. According to the notice sent to Markham, Ontario-based ATI, the company is accused of failing to make a timely disclosure of shortfalls in earnings and revenue for the third quarter of 2000.
Three ATI executives, CEO K.Y. Ho, marketing manager Mary de la Torre, and former director of investor relations Jo-Anne Chang, and their spouses also were accused of engaging in insider trading by making large stock sales before the revenue and earnings shortfalls were announced to the public. ATI said in a statement that it was conducting its own investigation of the allegations. A hearing date for the charges has not been set.