Trial date set for FMG, ASIC showdown
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Thursday, 28 August, 2008 - 13:25
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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.
ABC radio reported the Australian Securities and Investments Commission claim FMG and Mr Forrest had allegedly mislead investors by claiming it had a binding contract to build and finance a railway, port and mine before its Pilbara operations were built in 2004.
If ASIC wins the case, it is calling for Mr Forrest to be disqualified from running a company and to pay for FMG's fines of more than $3 million.
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