22 Dec 2022
XXXX XXXX
- Citation
- 22NCC-146-05/2015 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- 22NCC-146-05/2015 (Mahkamah Tinggi)
On the balance of probabilities the court found the 1st Defendant attended the emergency WCT board meeting and had possession of the MEYDAN Cancellation Notice, communicated that non‑public material information to the 2nd Defendant by a pattern of calls/SMS shortly before and during disposals, and the 2nd Defendant acted by disposing 1.64 million shares prior to public disclosure; the information was material and not generally available, therefore both Defendants were insiders and breached s188 CMSA; the 1st Defendant's counterclaim failed for lack of proof.