Malaysia Case Law: Decisions & Judgments | LexChat

Malaysia Case Law

Market abuse
  • 31 Mar 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 1st Defendant attended the emergency board meeting and thus possessed the non-public Cancellation Notice, circumstantial evidence of intensive short-duration calls/SMS between defendants around disposal dates together with expert evidence of materiality established that 1st Defendant communicated the inside information to 2nd Defendant who then disposed of shares while in possession of that information; the information was material and not generally available and both defendants thereby breached s188 CMSA; counterclaim dismissed for lack of proo…