Australia takes airline Regional Express to court over governance failures
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 11 2024
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Source: Reuters
ASIC Legal Action Against Regional Express: The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Regional Express for allegedly making a misleading claim about its fiscal outlook in February 2022, despite lacking a reasonable basis for the assertion.
Consequences for Former Executives: ASIC is seeking penalties and disqualification orders against Rex's former executive chair and three directors, as the airline had entered voluntary administration and reported losses without a financial forecast for fiscal 2023.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
