Regulator Cites Rex Holdings Disclosure Breach

A New South Wales court has found that Regional Express Holdings (Rex), an airline formerly listed on the stock exchange, violated its disclosure requirements. This determination by the court stems from a profit forecast that Rex had issued in February 2023.

Australia's securities regulator pursued the case against the airline. The court's ruling confirms that Rex failed to meet its obligations regarding the timely and accurate disclosure of financial information. This outcome underscores the stringent regulatory environment for listed companies concerning their forward-looking statements.