Trial date set for FMG, ASIC showdown

Fortescue Metals Group Ltd and its chief executive Andrew Forrest will head to court in April next year to fight claims made by the corporate watchdog.


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And if FMG and Mr. Forrest win the case, they should require that the head of the ASIC be replaced, then the ASIC should pay FMG and Mr. Forrest's legal fees.

Buffalo, New York
Let me see if I have this right. The ASIC is sueing FMG for saying the chicken came before the egg-5 years ago and for $3 Million. Wow-throw Paris Hilton and Hugh Hefner in and you might get 2 people that are interested. Hey, why am I writing about this ?

What about the time FMG and Mr Forrest spent in defending the case instead of looking after the business? Shouldn't they be compensated if they won?

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/12/18

1 year TSR5 year TSR
258thWoodside Petroleum-0%1%
306thFortescue Metals Group-9%-2%
398thIluka Resources-22%-0%
405thMineral Resources-24%10%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$0 Issued
$117.6m Bought
$23.2m Bought
Total value as at the date of the transaction
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2nd↓Fortescue Metals Group$9,358.7m
3rd-Woodside Petroleum$5,050.0m
4th-Mineral Resources$1,706.7m
5th↑Iluka Resources$1,079.2m
513 listed resources companies ranked by revenue.
Source: Morningstar

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