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LAWSUITS NEWS & LEGAL INFORMATION

ASIC

Primelife alleged the company had 20 unregistered management investment schemes. The Corporations Act 2001 requires companies to properly inform investors of their investment decisions and disclose all information. ASIC has agreed to pay Primelife $600,000 for legal fees and up to $1 million to cover independent accountant reports. (Apr-05-05) [FINANCIAL STANDARD]


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Published on Apr-4-05


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