Should The Warehouse be liable for misleading stock market?

Author
Newstalk ZB,
Publish Date
Fri, 27 Mar 2020, 4:11PM

Should The Warehouse be liable for misleading stock market?

Author
Newstalk ZB,
Publish Date
Fri, 27 Mar 2020, 4:11PM

The Warehouse Group says it acted in "good faith" when it told the NZX on Tuesday that its Red Shed Warehouse stores would remain open during the four-week lockdown.

The Warehouse Group shares were up by as much as 42 per cent at one stage following the announcement they would remain open.

The group could now face a fine of up to $500,000 for the hasty market announcement if it is found to have breached the NZX's continuous disclosure rules.

Dean Anderson from Kernel Wealth joined Kate Hawkesby to share his thoughts on the issue.

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