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ASX company, ex-CEO accused of failing to reveal massive earnings downgrade – The Motley Fool Australia

ASIC alleges Austal of failing to tell the public in 2016 that its previous profit forecast had turned into a significant loss….

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An ASX-listed company and its former chief executive have been taken to the Federal Court to face allegations of holding back information about a major earnings downgrade.
The Australian Securities and Investments Commission (ASIC) has started a civil case…

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