News Burst: Corel CEO charged with insider trading

The high-profile CEO of Canadian software maker Corel, Michael Cowpland, was charged Thursday with three counts of violating securities law.

The Ontario Securities Commission also said it has charged Cowpland's personal holding company M.C.J.C. Holdings. The charges will be heard at the Ontario Court of Justice in Toronto on Nov. 22. If found guilty, Cowpland could face up to two years in jail, a fine of up to $1m and/or payment of three times any profits made.

Last month, in an interview with ZDNet UK's editor Richard Barry, Cowpland denied the case was ongoing saying, "This is old news. It's over. There is no further action, really."

Full story to follow