Weldon pushed for due diligence on Clear to be finished quickly, former employee says

Mon, 13 Jun 2016

By Sophie Boot June 13 (BusinessDesk) - Former chief executive Mark Weldon knew NZX's due diligence team wasn't convinced Clear would be a success but pushed ahead with the acquisition anyway, an ex-NZX staff member has told Wellington's High Court. 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 Australian grain trading platform in 2009. Ralec...

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