Ralec avoids revealing who is funding its counter-claim against NZX

Thu, 09 Jun 2016

By Sophie Boot June 9 (BusinessDesk) - The former owners of the Clear Grain Exchange avoided having to reveal who is funding their counterclaim against NZX in Wellington's High Court today. NZX bought Clear for $A7 million in October 2009, with two earn-outs of A$7 million tied to performance. The stock market operator is suing Dominic Pym, Grant Thomas, and their companies Ralec Commodities and Ralec Interactive for between A$20.7 million and A$37.6 million, and say they provided “wildly inaccurate” forecasts prior to NZX buying the Aust...

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