Ralec incomplete and inaccurate in due diligence, NZX counsel says

Tue, 07 Jun 2016

By Sophie Boot June 7 (BusinessDesk) - Ralec failed to inform NZX of the true extent of its dispute with former shareholders and gave inaccurate due diligence responses, NZX's lawyer has told Wellington's High Court. NZX is suing Dominic Pym, Grant Thomas, and their companies Ralec Commodities and Ralec Interactive for providing “wildly inaccurate” forecasts prior to NZX buying the Australian grain trading platform in 2009. Ralec's counterclaim says NZX and its former chief executive Mark Weldon under-funded the business, meaning it coul...

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