MarketPR
A shareholder in ASX Ltd (ASX) is preparing legal action against former directors of the exchange, following the collapse of its blockchain-based CHESS replacement project and the exchange's own admission that it misled the market.
The threat of litigation brings governance scrutiny back to the directors who oversaw the failed build. A formal filing is the next confirmable step.
The admission that frames the claim The center of the shareholder's argument is ASX's own acknowledgment that it misled the market during the CHESS overhaul.
Former directors, the claim contends, presided over a project that failed and, while it was running, gave investors an inaccurate picture of its progress. No formal filing has been announced.
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