Time running out for Tranz Rail claimants, regulator says

Time is running out for shareholders of the former railroad operator Tranz Rail to claim compensation under the $27.5 million settlement of the insider trading case.

Shareholders eligible for compensation have three weeks left to register their claims, according to a statement from the Securities Commission. Of 535 shareholders identified in April as having yet to come forward, 147 have subsequently contacted the commission. Those remaining have until July 24 to make a claim. 

The Commission reached a settlement on the Tranz Rail insider trading case with in June 2007, with some $17.3 million having been paid over to 30 counterparties.

The High Court subsequently instructed the commission to distribute the remainder of the settlement funds to Tranz Rail shareholders who held shares on Feb. 8 and Feb. 12. 

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report