Corporate and M&A

Contact: Tony Stumm, Partner; Carter Newell (Queensland, Australia)

On 27 June 2013, the High Court of Australia handed down an unanimous judgment in a pre- criminal prosecution trial to address questions of law arising affecting the accused who was charged with market manipulation and conspiracy to commit market manipulation in 2006.  The activity behind the charges related to the accused and others buying listed company shares, just before market closing, at a price which prevented a margin call being exercised against the accused.

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