Market speculation may justify share buys: ASIC insider trading case
Elouise FowlerReporter
An expert witness in an insider trading case says market speculation swirling ahead of Wesfarmers’ takeover of Kidman Resources in 2019 could explain why an investor bought Kidman stock before the bid became public.
Duncan Stewart appeared in the Melbourne Magistrates’ Court on Tuesday charged with buying Kidman shares in April 2019 while aware that Wesfarmers had made a proposal to buy the company.
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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au
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