June 25, 2019 / 8:06 AM / 3 months ago

Australian corporate regulator takes court action against former Murray Goulburn execs

June 25 (Reuters) - Australia’s corporate regulator said on Tuesday it had started civil proceedings against former executives of agricultural co-operative Murray Goulburn for breaching certain disclosure obligations on the Australian Securities Exchange (ASX).

The Australian Securities and Investments Commission (ASIC) said in a statement the proceedings were against Gary Helou, former managing director, and Bradley Hingle, former chief financial officer, over announcements made to the ASX in February 2016 regarding profit guidance and a farmgate milk price.

Murray Goulburn is listed on the ASX as MG Unit Trust . The company said in a separate statement that it had not been named as a party to the proceedings. (Reporting by Ambar Warrick in Bengaluru; Editing by Jacqueline Wong)

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