Xero share trading sparked NZ’s first market manipulation trial

Tue, 27 Sep 2016

By Fiona Rotherham Sept. 27 (BusinessDesk) - Trading by Milford Asset Management portfolio manager Mark Warminger in Xero shares in June 2014 sparked an inquiry by the NZX’s market surveillance team and, ultimately, the current market manipulation case against him underway in the High Court at Auckland. Fraser Wyeth, manager of NZX’s market surveillance team, told the court that he’d had email correspondence with Warminger in April 2014 in which the portfolio fund manager sought a price inquiry into Xero stock after complaining about all...

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