The former chief executive of Electro Optic Systems allegedly knew that weaker revenue would lead to a downgrade three months before the ASX-listed space and defence manufacturer told investors.
The Australian Securities and Investments Commission is suing Electro Optic Systems’ founder and former chief executive Ben Greene, alleging he failed to exercise care and diligence in communicating the downgrade.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
