Business
ASIC takes tech group iSignthis to court – Sydney Morning Herald
ASIC alleges iSignthis’s disclosures led to a release of performance-based shares to the boss of the beleagured group.
ASIC alleges the revenues derived under the agreements resulted in iSignthis achieving performance milestones that caused the allocation of 336,666,667 performance shares, a substantial majority of which were allocated to the directors of iSignthis, including to Mr Karantzis.
In November last year iSignthis was forced to admit it made a mistake and misclassified most of its revenue for the contentious half-year period ending on June 30, 2018.
The company admitted that $2.9 million of the $5 million…
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