Aussie broker fined $950k for unfair buyback deal
Transaction favoured substantial shareholder of Arowana International, a defendant in the Intueri class action.
The share trading by broker Ord Minnett took place on the ASX in September 2021, shortly before Arowana delisted.
Broking firm Ord Minnett has been fined A$800,000 ($950,000) for favouring a substantial shareholder of Arowana International in a share buyback shortly before the company delisted from the ASX.
Arowana is a defendant in a class action claim brought by shareholders of NZX-listed Intueri Education
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