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An ASX statement from budget airline Rex that was optimistic about its 2023 profit prospects should have been corrected by April, ASIC has told a judge, disputing claims that the statement was not a forecast but merely an expression of what the board hoped for.
The eSafety Commissioner has struck back at Elon Musk-owned X Corp's claims that it should not have to comply with a new online safety standard when it is already subject to rules for social media companies.
ASIC is seeking a $1.3 million fine against Star’s former CEO Matthias Bekier and a $1.1 million fine against ex-general counsel Paula Martin for breaching their duties by failing to warn the casino operator's board about money laundering risks.
Popular Swiss sneaker company On Clouds has prevailed in its challenge to a trade mark by sustainable footwear brand Cyclonic.
Construction PRO
A developer linked to Keystone Asset Management has failed to persuade the Full Federal Court to exempt three family trusts from a $158 million freezing order.
ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.
The ASX is fighting for a key witness in ASIC’s case over alleged misleading statements concerning its CHESS replacement program to appear at an upcoming trial, saying he needs to be cross-examined in person.
The former executive chairman at regional airline Rex has admitted ASIC’s claims that he misled investors about the company’s position and breached his directors duties and may give evidence for the corporate watchdog, a court has heard.
Four directors of regional airline Rex are set to decide this week whether they will remain silent in the face of allegations by the corporate regulator that they misled investors about the company’s financial position.
Construction PRO
A unit of developer Heworth has lost its bid to set aside a notice to produce served by Transport for NSW in relation to its claim for compensation over the compulsory acquisition of the Balmain Leagues Club site.