Singleton fined $50k over disclosure law breach

AUSTIN Engineering chief executive David Singleton has been fined $50,000 by the Federal Court for breaching continuous disclosure laws while he was CEO of Austal Ships.

Singleton fined $50k over disclosure law breach Singleton fined $50k over disclosure law breach Singleton fined $50k over disclosure law breach Singleton fined $50k over disclosure law breach Singleton fined $50k over disclosure law breach

Case related to a breach of continuous disclosure laws.

The case related to a likely profit writeback of at least US$90 million for its 2016 financial year.

The writeback would generate a loss of at least US$40 million for the company.