ASC alleges illegal insider trading against Sherry Hagerty and Gary Hagerty

CALGARY, April 16, 2013 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Sherry Hagerty and Gary Hagerty breached Alberta securities laws by engaging in illegal insider trading in shares of former Calgary-based midstream oil and gas company Provident Energy Ltd.

ASC staff allege that in late 2011, Sherry Hagerty told her husband Gary Hagerty of the potential purchase of Provident Energy by Pembina Pipeline Corporation, which was material information that had not been publicly disclosed.  ASC staff also allege that Gary Hagerty was in possession of this information when he purchased Provident Energy shares, and that Gary and Sherry Hagerty made misleading or untrue statements to ASC investigators.

An appearance to set a date for a hearing in will be held on May 6, 2013, at 2:30 p.m. in the ASC Hearing Room on the 5th floor, 250 - 5^th Street S.W., Calgary, Alberta.

A copy of the Notice of Hearing can be found on the ASC website at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors.  As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE: Alberta Securities Commission

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Mark Dickey
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