Watson action pushes out US insider trading case

Eric Watson now lives on the Spanish island of Ibiza. (Image: NZME)

Tue, 06 Aug 2024

Insider trading charges lodged against embattled New Zealand businessman Eric Watson in the US courts look unlikely to be heard this year, with his last-minute lodgement of counterclaims against the Securities and Exchange Commission (SEC) causing a lengthy procedures timetable.The case, initially set for April 1 this year, was delayed when the SEC failed to find Watson. However, he popped up with a counterclaim against the US regulator just as it was preparing a default judgment against him in June.As a result of his counterclaims, includ...

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Markets

Class action launched against Fletcher's Iplex

Perth leaky pipe victims have engaged lawyers to launch a class action against Fletcher Building’s Iplex Pipelines Australia.Fletcher has responded, issuing an NZX notice today saying it would defend itself in the legal proceedings.Australian law firm Baker McKenzie said it was b...

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