Blackwell Global fined $40k for multimillion-dollar mistake

Blackwell Global fined $40k for multimillion-dollar mistake
Blackwell director James Law sold millions of shares while incorrect financial information was in the public domain. (Photo: Website screen capture)
Dan Brunskill
A regulator has fined Blackwell Global Investments $40,000 for incorrectly reporting financial figures, a mistake that sent its share price soaring and burned retail investors.The NZ Markets Disciplinary Tribunal on Friday publicly censured and fined the defunct lending company for breaching listing rules when it misreported its net tangible assets (NTA) in June last year.BusinessDesk spoke to one retail investor from Lower Hutt who lost more than $10,000 during this period and has been scared off of the share market for good.He said he became...

More Markets

NZ sharemarket up 0.5% ahead of long weekend
Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025
Pacific Edge suffers another setback in US
Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025
Listed retailers stand to gain from Trump tariffs:  Forsyth Barr
Retail

Listed retailers stand to gain from Trump tariffs: Forsyth Barr

Forsyth Barr lifted its KMD Brands target price by 10.4% after Trump tariff walkbacks.

Gregor Thompson 24 Apr 2025
NZ sharemarket rises as Trump backs down
Markets Market Close

NZ sharemarket rises as Trump backs down

The S&P/NZX 50 Index closed up 1.01% or 119.78 points.

Tom Raynel 23 Apr 2025