Rakon censured, fined over Chinese factory disclosure

Tue, 04 Mar 2014

By Paul McBeth March 5 (BusinessDesk) - Rakon, which makes crystal oscillators used in smart phones and navigation devices, has been publicly censured and fined $30,000 by the stock market’s disciplinary tribunal for breaching disclosure rules when it sold 80 percent of its Chinese factory last year. The Auckland-based manufacturer breached the rules for about an hour and a half when it didn’t inform the market it had entered into a tentative agreement with Zhejiang East Crystal Electronic Co for the Chinese firm to buy its stake in a Cheng...

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