The Ontario Securities Commission announced today that it has commenced proceedings against ATI Technologies Inc., K.Y. Ho, Betty Ho, Jo-Anne Chang, David Stone, Mary de la Torre, Alan Rae and Sally Daub.

ATI is alleged to have failed to disclose material information on a timely basis and made a misleading statement to the OSC.

K.Y. Ho, Betty Ho, Chang, Stone, de la Torre, and Rae are alleged to have committed insider trading contrary, resulting in more than $7.9 million in profits or avoided losses and triggering significant tax benefits. Daub is alleged to have made a misleading statement to OSC staff.

The OSC is seeking disgorgement of any amounts attained as a result of non-compliance with Ontario’s securities law.

The first appearance is scheduled for February 14 in Toronto.

Copies of the Notice of Hearing and Statement of Allegations are available at www.osc.gov.on.ca