The corporate regulator is suing Noumi – formerly known as Freedom Foods Group – its ex-chief executive Rory Macleod and ex-chief financial officer Campbell Nicholas for alleged disclosure breaches.
The Australian Securities and Investments Commission on Monday issued a press release revealing proceedings in the Federal Court, which if successful may lead to about $46 million in fines for the manufacturer of plant-based drinks and UHT milk, and the two men being barred from managing corporations.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
