Securities Commission Investigation
In late 2004, the New Zealand Securities Commission launched an investigation into the company regarding alleged insider trading. In June 2007 David Richwhite (along with his shell company Midavia Rail, formerly Pacific Rail) agreed to pay NZ$20 million, but did not admit liability.
Read more about this topic: Tranz Rail
Famous quotes containing the word commission:
“A sense of humour keen enough to show a man his own absurdities as well as those of other people will keep a man from the commission of all sins, or nearly all, save those that are worth committing.”
—Samuel Butler (1835–1902)