Fortescue ‘Disappointed’ After Court Rules It Misled Investors
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Fortescue Metals Group Ltd. is “deeply disappointed” after a court ruled that Australia’s third-biggest iron ore miner and its Chief Executive Officer Andrew Forrest misled investors over accords with China.
“The company is now reviewing the judgment before deciding on its next course of action,” Perth-based spokesman Cameron Morse said in a phone interview, declining to say whether the company will appeal the decision. Earlier today, the Federal Court of Australia upheld an appeal from the nation’s corporate regulator, which initiated the legal action.