NZX's cost-cutting approach to acquisitions caused 'friction', former staffer tells High Court

Mon, 13 Jun 2016

By Sophie Boot June 14 (BusinessDesk) - NZX's cost-cutting approach with new acquisitions frequently caused "friction", a former employee has told Wellington's High Court. NZX is suing Dominic Pym, Grant Thomas, and their companies Ralec Commodities and Ralec Interactive for between A$20.7 and A$37.6 million, and say they provided "wildly inaccurate" forecasts prior to NZX buying the Australian grain trading platform in 2009. Ralec's counterclaim of A$14 million says NZX and former chief Mark Weldon underfunded the business which meant i...

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