court rejects opes prime injunction

  1. 5,342 Posts.
    Court rejects Opes Prime injunction

    Opes Prime is in receivership and under investigation by ASIC. (www.opesprime.com.au)

    A Federal Court judge has dismissed an application to stop the sale of shares worth millions of dollars invested through failed stockbroking firm Opes Prime.

    Opes Prime investors have launched a class action against the company, its administrators and key backer ANZ.

    They are disputing the ownership of shares bought through an Opes Prime margin lending scheme.

    Opes Prime is in receivership and is under investigation by the Australian Securities and Investments Commission.

    Justice Ray Finkelstein ruled it would be wrong to stop ANZ selling shares acquired through Opes Prime.
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