Franks Welcomes High Court Ruling
ACT MP Stephen Franks welcomed the High Court grant of leave to proceed with the insider trading action against Fletcher
Challenge ex-chairman Kerry Hoggard.
Fletcher Challenge shareholders Roger Kerr and Catharine Franks can now exercise Fletcher challenge’s rights to sue Mr
Hoggard for insider trading.
“I am glad the first hurdle is overcome. The order sets a timetable for getting all the necessary information.
“The order also sets conditions designed to ensure that Fletcher Challenge can monitor the case, as the company must
fund it,” said Stephen Franks.
ENDS