In a second day of testimony, Australian Competition and Consumer Commission enforcement director Michael Taylor said corporate regulator the Australian Securities and Investments Commission was first to tell him about concerns to do with the capital raising.
“I became aware that there was some suggestion that bids for shares had been placed by the investment banks to fill the book,” Taylor added. More than a year and a half since the charges were brought, the matter is yet to go to trial and none of the accused has entered a formal plea, but all have said they will plead not guilty.
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