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.
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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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