Sharechat Logo

Rubicon judgment appealed

By Nick Stride

Friday 28th March 2003

Text too small?
US hedge fund Perry Corporation will today ask the High Court for a stay of execution on the effective $8 million fine imposed by Justice Judith Potter.

Perry has filed an appeal against the March 14 judgment in which Justice Potter ordered it to forfeit 12 million Rubicon shares, worth $8 million.

Perry was also ordered to sell a further 24 million shares within six months and lost voting rights for all its shares.

Any Rubicon dividend it becomes entitled to in the meantime will be distributed pro rata to the company's other shareholders. The judgment found Perry had breached the Securities Act.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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.

Related News:

Government package for commercial leases too little, too late
Concerns over Government’s intervention in commercial leases
Development Commitment to Bowen Campus Stage Two
Vista Group International Limited - Update on the impacts of COVID-19
AFT secures Maxigesic IV® distribution in four Western European countries and reports Australasian market share gains in COVID-19 medicines
Investore Property Limited (Investore) today announced its financial results for the twelve months ended 31 March 2020 (FY20).
Rabobank GDT Analysis - Event 261
SkyCity Entertainment Group Limited - Update on COVID-19 Impacts and Recent Trading
ANZ announces sale of UDC Finance
Foley Wines Limited Announces Harvest Result, Earnings Outlook and Development in Martinborough

IRG See IRG research reports