3 Jun 2016
FINANCIAL MARKETS AUTHORITY v WARMINGER [2016] NZHC 1193
- Citation
- [2016] NZHC 1193
- Court
- High Court
The Court ordered the FMA to amend the statement of claim to expressly identify how the pleaded trades had the effect of creating or causing the creation of a false or misleading appearance and to particularise the facts and circumstances from which it is alleged the defendant ought reasonably to have known that effect; the existing pleading was unduly conclusory and required clarification though not to the full extent of the defendant's broad requests.