Morgans denies voting breach in failed dental-chain spat
Liam WalshReporter
Key Points
- Smiles Inclusive floated in 2018 after a $35m IPO and collapsed in 2020.
- Stockbroker Morgans underwrote the float and even lent $200K as Smiles struggled.
- Morgans rejected claims of voting client shares without authorisation.
Stockbroking outfit Morgans was accused of voting shares of clients without authorisation in a boardroom brawl for a dental chain that it had helped raise $35 million in a disastrous float.
The accusation was rejected on Wednesday in a Federal Court public examination into the events of now collapsed chain Smiles Inclusive.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
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