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 29/06/18

1 year TSR5 year TSR
61stAtlas Iron187%-42%
204thNorthern Star Resources56%70%
209thMineral Resources53%19%
531stFortescue Metals Group-10%13%
722 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
$0 Other
$0 Other
Total value as at the date of the transaction
Source: Morningstar


1st-Fortescue Metals Group$10,999.7m
4th-Mineral Resources$1,470.4m
5th↓Atlas Iron$896.6m
6th↓Northern Star Resources$850.6m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

554thMark Barnaba$223k
656thSharon Warburton$170k
714thElizabeth Gaines$161k
Ranked by total remuneration from all listed WA companies

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