Agria, Lai fined $220,000 for good character breaches

Thu, 21 Mar 2019

By Jenny Ruth March 21 (BusinessDesk) - PGG Wrightson’s largest shareholder Alan Lai and his company Agria have been fined $220,000 and ordered to pay another $30,000 in costs by the High Court for breaching good character conditions imposed by the Overseas Investment Office. The breaches arose from Lai and Agria’s settlement last year with the United States Securities and Exchange Commission over violations of US securities law. In imposing the fine, Justice Christine Gordon said the nature and extent of the breaches were serious....

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