The Financial Markets Authority has taken the chief executive and two directors of Oceania Natural to court, claiming they manipulated the share market. The proceedings relate to alleged breaches of market manipulation prohibitions and the disclosure obligations in the Financial Markets Conduct Act. Oceania Natural Limited listed on the NXT board on March 31, 2016, and delisted on June 29, 2018. Nine relate to alleged breaches of disclosure obligations and six relate to alleged breaches of market manipulation prohibitions. The FMA has brought, and will continue to bring enforcement action where it finds potential evidence of market manipulation and potential breaches of disclosure obligations."

Source: Stuff April 15, 2019 05:03 UTC