The Australian Securities and Investments Commission took Newcrest to court alleging it briefed selected analysts about production forecasts and capital expenditure and failed to disclose the same information to the market.
The Federal Court on Wednesday agreed to impose one penalty of $800,000 for a contravention about the miner's expected full-year 2014 gold production and another penalty of $400,000 for a contravention about the expected capital expenditure for the same period.
The corporate regulator is still investigating analysts who were selectively briefed by Newcrest Mining, after the gold miner was ordered to pay a $1. 2 million fine for breaching its continuous disclosure obligations.
Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.
Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.
Read more here: Business Spectator