Former Facedrive execs to pay fines after misleading news releases

Executives with the startup formerly known as Facedrive Inc. will be banned from serving as public company directors and will pay financial penalties after issuing misleading news releases. The Capital Markets Tribunal, a division of the Ontario Securities Commission, approved a settlement agreement on Friday between the commission and Facedrive, which is now known as Steer Technologies Inc. STER-X Sayan Navaratnam, the company's former chair and chief executive, is prohibited from acting as a director or officer of a publicly traded company for three years, while current chair Junaid Razvi and CEO Suman Pushparajah are banned for two years. The…