QEX Logistics fined $80k for stock theft disclosure delay

QEX shares haven't traded since February. (Image: Supplied)

Mon, 04 Oct 2021

QEX Logistics, which is looking to delist, has been publicly censured by the NZ Markets Disciplinary Tribunal as part of a settlement agreement.The infant formula exporter has been censured for failing to release material information to the market “promptly and without delay”. It has also been fined $80,000 and is required to pay costs incurred by the tribunal and the NZX. The financial penalty could have been as high as $500,000. The case is tied to events in October 2020 when QEX told the market an estimated $4 million o...

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