The former Plus SMS chief executive reportedly murdered in the US was embroiled in long-running lawsuits in the US.

After years of infringements, the NZX has had enough of Plus SMS Holdings and thrown the failed text messaging company off the NZAX.

NZX Regulation confirmed last night that it was cancelling the listing of Plus SMS at the end of this week.

Suspended issuer Plus SMS has been fined $50,000 for breaching NZAX listing rules and faces further investigation for allegedly passing information to some shareholders without informing the entire market.

The NZ Markets Disciplinary Tribunal found Plus SMS, a would-be text messaging company, acted in breach of two rules when it failed to file its preliminary results by June 14, 2009.

The company is still in breach and remains suspended from the stock market.

What a joke. The Securities Commission has investigated disclosures by NZX-listed Plus SMS and says it can’t do anything because at the time it didn’t have the powers.

Plus SMS has has cost investors millions of dollars since a backdoor listing using the shell of RetailX, in  late 2005. 

Here’s the full Securities Commission release: