(Tucson, Ariz) - Rosemont Copper CEO Rod Pace is now admitting the company did not disclose a corporate bankruptcy of two of its key officials to Arizona authorities.
acknowledged that Rosemont's parent company, Vancouver-based Augusta Resource Corporation
, reported to Canadian regulators that two of its top officers had been involved in a corporate bankruptcy.
claimed, however, that Rosemont is not required to make those disclosures in Arizona.
"Rosemont initially denied there was a problem, but in subsequent public statements Mr. Pace
said that the "matter" had been disclosed in Canada," said Rabago.
"Apparently, Mr. Pace
believes that it is okay for Rosemont to tell the truth in Canada but not share that information with Arizona regulatory authorities as required by law."
The complaint alleges Rosemont repeatedly submitted false disclosure statements to the ACC
that did not disclose the bankruptcy of a major Vancouver company involving two of Rosemont's top officers.
The false statements began with Rosemont's initial incorporation documents and continued for the last seven years.
The ACC complaint follows earlier complaints filed by SSSR last December requesting that U.S. and Canadian securities regulators investigate alleged violations of securities laws in both countries.
dismissed that complaint at the time as "mudslinging".