Franks Welcomes High Court Ruling
Franks Welcomes High Court Ruling
ACT MP Stephen
Franks welcomed the High Court grant of leave to proceed
with the insider trading action against Fletcher Challenge
ex-chairman Kerry Hoggard.
Fletcher Challenge
shareholders Roger Kerr and Catharine Franks can now
exercise Fletcher challenge’s rights to sue Mr Hoggard for
insider trading.
“I am glad the first hurdle is overcome.
The order sets a timetable for getting all the necessary
information.
“The order also sets conditions designed to
ensure that Fletcher Challenge can monitor the case, as the
company must fund it,” said Stephen
Franks.
ENDS