Brief: Australia's ASIC Says Sued Magnis Energy Technologies, Executive Chair Over Disclosure Failures

Ryzon Materials

30/04/2024 02:33

April 30 (Reuters) - Australian Securities & Investments
Commission:
    * SUES MAGNIS ENERGY TECHNOLOGIES AND ITS EXECUTIVE CHAIRMAN
FRANK
POULLAS OVER DISCLOSURE FAILURES
    * LAUNCHED CIVIL PENALTY PROCEEDINGS IN FEDERAL COURT
AGAINST
MAGNIS ENERGY TECHNOLOGIES
    * ALLEGES MAGNIS BECAME AWARE THAT CLAIMS IT HAD MADE ABOUT
IM3NY
BATTERY PLANT’S FUNDING, AMONG OTHERS WERE INCORRECT
    * CIVIL PENALTY PROCEEDINGS AGAINST MAGNIS ALLEGING IT
FAILED TO
DISCLOSE MATERIAL INFORMATION ABOUT ITS LI-ION BATTERY
MANUFACTURING FACILITY
    * SEEKING DECLARATIONS AND PECUNIARY PENALTIES AGAINST BOTH
MAGNIS
AND EXECUTIVE CHAIRMAN

Further company coverage:  MNS.AX 

 ((Reuters.Briefs@thomsonreuters.com;))