ASIC
The Federal Court has dismissed ASIC’s proceedings against TerraCom’s current managing director Daniel McCarthy and former officers Nathan Boom, Wallace King and Craig Ransley.
ASIC alleged that Mr McCarthy, Mr Boom, Mr King and Mr Ransley authorised or permitted false or misleading information to be given to the ASX and failed to act with the requisite degree of care and diligence in the discharge of their duties as directors and officers of TerraCom.
ASIC will consider the judgment carefully and has 28 days to lodge any appeal to the Full Court of the Federal Court, should it decide to do so.
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