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

Fri, 26 Nov 2021

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...

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