Corel's chief executive said that an insider trading probe against him by Canadian regulators had been tainted by a newspaper account, which violated due process.
The National Post said on Tuesday that the Ontario Securities Commission (OSC) had completed a 21 month investigation of stock trades undertaken by Michael Cowpland in August 1997 and passed on a report to senior management that recommended action against him.
But Cowpland said no discussions had taken place with his lawyer, Nigel Campbell at Blake, Cassels & Graydon in Toronto, so it was a violation of due process to publish the report, and he viewed the information as "highly questionable".
The OSC refused to comment on the review, which saw Cowpland selling 2.4 million of Corel's shares for C$20.5 million only a month before the applications supplier reported a surprising $32 million loss.
This saw its stock price crash by 40 per cent, but Cowpland sold his shares when they were trading at between C$8.20-8.80.
Two commissioners will decide if the OSC takes action against him and if found guilty, he could face jail and a minimum C$1 million fine.
Staff told to beware of "unusual sounds" after an employee reported mystery symptoms
Sophisticated malware comprises code previously used to attack Ukraine
Including a 15-inch Intel Core-powered device weighing less than a bag of sugar
Tuomo Suntola's ALD technology extended Moore's Law, but was only adopted by chip-makers in 2007