Rural Funds Management has been awarded damages over a Bonitas short sell report

Company News

by Rachael Jones

Rural Funds Management as responsible entity for the Rural Funds Group (ASX:RFF) has been awarded damages over a Bonitas short sell report.

The Supreme Court of NSW declared that the publication of the Bonitas report dated 6 August 2019 by Bonitas Research LLC and its principal, Matthew Wiechert, contravened both the Corporations Act and the ASIC Act and has awarded damages and costs in favour of RFF.

The Court ordered damages payable by Bonitas and Wiechert, in the amount of $530,201 as well as costs of $368,974.

Shares in Rural Funds Management (ASX:RFM) are trading 1.34 per cent higher at $1.90.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.