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Rex Airlines being investigated for alleged deceptive and misleading conduct
December 12th 2024
The Australian Securities and Investments Commission (ASIC) has informed Regional Airlines (Rex) of its allegations that the Australian regional carrier made deceptive statements to the Australian Securities Exchange on February 28 last year. Read More » ASIC alleges the airline forecast a positive outlook for fiscal 2023 despite having no reasonable basis for such a claim. In its lawsuit, filed in the Supreme Court of New South Wales earlier this week, ASIC alleged Rex's former executive chair, Lim Kim Hai, breached his duties by authorizing and failing to take steps to correct the announcement.
