Business
NSX (ASX:NSX) drops 15%, in trading halt, after ASIC pursues director in court
NSX Ltd (ASX: NSX) was placed in a trading halt this afternoon, after shares in the stock exchange operator dropped 15% to 28 cents.
The NSX share price plummeted on news the Australian Securities and Investments Commission (ASIC) has launched civil proceedings in the Federal Court against iSignthis Ltd (ASX: ISX) and its managing director John Karantzis.
Mr Karantzis is also managing director of NSX.
A long list of allegations
ASIC alleges that iSignthis breached its continuous disclosure obligations by failing to disclose material information regarding 3 client contract agreements.
The customers – Corp Destination Pty Ltd, Fcorp Services Ltd and IMMO Servis Group – entered into agreements that provided one-off integration and…
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