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:
“Yesterday the Electoral Commission decided not to go behind the papers filed with the Vice-President in the case of Florida.... I read the arguments in the Congressional Record and can’t see how lawyers can differ on the question. But the decision is by a strictly party vote—eight Republicans against seven Democrats! It shows the strength of party ties.”
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