FMA takes alleged Pushpay insider traders to court

FMA takes alleged Pushpay insider traders to court
Serious cases of insider trading can be punishable with a prison term of up to five years or a fine of up to $500,000. (Image: Getty)
Michael Andrew
The Financial Markets Authority has filed proceedings against two individuals for alleged insider trading in relation to the sale of Pushpay shares in 2018.Both individuals have been granted interim name suppression and face civil proceedings, filed in the Auckland high court. One faces a criminal charge, filed in the Auckland district court.The trading occurred in June 2018, when Pushpay announced co-founder and director Eliot Crowther had resigned and sold down his shareholding in the firm.The FMA claims one individual used this material insi...

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