Wrightson shareholder Agria settles US fraud, market manipulation claims

Mon, 10 Dec 2018

By Paul McBeth Dec. 11 (BusinessDesk) - PGG Wrightson's cornerstone shareholder Agria Corp and its executive chair Alan Lai have settled with US authorities over claims the agriculture investment firm hid losses from investors through fraudulent accounting and overstated the value of its New York-listed stock. The US Securities and Exchange Commission investigation triggered New Zealand's Overseas Investment Office to investigate whether Agria and its principals continued to meet the 'good character' necessary to pass foreign investment...

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