Rural Funds Management launch Bonitas litigation

Company News

by Rachael Jones

Rural Funds Management, as responsible entity for the Rural Funds Group (ASX:RFF) has today issued legal proceedings against Bonitas Research LLC and its principal, Matthew Wiechert.

On 6 and 8 August 2019 Bonitas selectively released documents regarding RFF.

An independent report by Ernst & Young released on 27 August 2019 concluded the allegations made in the first two Documents were not substantiated and that EY’s findings corroborated RFM’s response.

A third Document was released on 6 September 2019.

Court documents filed today in the Supreme Court of New South Wales, say the allegations by Bonitas and Matthew Wiechert against RFM and RFF contravened sections of the Corporations Act 2001 and a section of the Australian Securities and Investments Commission Act.

RFM alleges that it suffered loss and damage as a result of the making of the allegations.

Shares in Rural Funds Group (ASX:RFF) are trading 0.49 per cent higher at $2.05.