Videotron Group Ltd. (“Videotron”) and Quebecor Media Inc. (collectively, the “Plaintiffs”) accused Claude Chagnon of insider trading by having accepted 1,223,033 options to purchase Videotron shares while allegedly knowing that Rogers Communications Inc. (“Rogers”) was about to make an offer to purchase Videotron at an inflated price. Rogers did in fact make such an offer less than a week later.

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