Sirtex pays ASIC infringement, denies wrongdoing

Company News

by Jessica Amir

Sirtex Medical (ASX:SRX) has complied with an infringement notice issued by ASIC relating to an alleged contravention of its trading disclosure obligations.

The Australian medical device company denies the allegations.

But the company paid the $100,000 fine saying it was in the best interest of the company given the anticipated cost of contesting the fine.

The global company says it also has other business priorities at this time to focus on, even though the findings did not prove the company breached any obligations.

Shares in Sirtex Medical (ASX:SRX) are trading 0.97 per cent lower to $14.23.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.