January 17, 2018 / 8:26 PM / 8 months ago

Home Capital faces C$4 million lawsuit from short seller Cohodes

TORONTO, Jan 17 (Reuters) - Home Capital Group Inc, Canada’s biggest alternative lender, said on Wednesday that it had received a statement of claim from short seller Marc Cohodes, who is seeking C$4 million ($3.2 million) in damages.

Home Capital said that the claim is based on allegations of misrepresentation and oppressive conduct.

“The company believes it has valid defenses to these claims and fully intends to defend its conduct. The company looks forward to examining the conduct of Mr Cohodes,” Home Capital said in a statement.

$1 = 1.2412 Canadian dollars Reporting by Matt Scuffham; Editing by Sandra Maler

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