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Murray Goulburn to pay the $650,000 penalty

  • By: Farm Tender "Prime"
  • Dec 18, 2017

On 16 November 2017, Murray Goulburn Co-operative Co. Ltd and MG Responsible Entity Limited (together Murray Goulburn) announced that they had reached agreement with the Australian Securities and Investments Commission (ASIC) in relation to its investigation into Murray Goulburn’s conduct over the period prior to the ASX announcement on 27 April 2016, and that the settlement was subject to Federal Court approval.

The Federal Court of Australia has today made a declaration in the terms sought by ASIC and Murray Goulburn and has imposed the agreed penalty of $650,000.

It was not alleged by ASIC that Murray Goulburn deliberately contravened its continuous disclosure obligations.