ASIC files new claim against Fortescue Metals

The Australian Securities and Investments Commission has made an application to file a new statement of claim against Fortescue Metals and its chief executive, Andrew Forrest, in the Federal Court in Western Australia.

The new documents include further claims against Fortescue and Mr Forrest and seek additional orders against them.

ASIC has sought leave to amend its claim in response to allegations by the defendants that the original claim was defective because it did not refer to an Australian Stock Exchange announcement dated November 8 2004, which was released to the market the following day.

ASIC now seeks to rely on that announcement and other statements set out in its new statement of claim as a basis for seeking additional orders against Fortescue and Mr Forrest.

Today the court set a timetable for the filing of documents and has set ASIC's application down for further hearing on June 6 2006.