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21 November, 1991
News release
Wilson Neill Limited - Suspected Insider Trading
Certain shareholders of Wilson Neill Limited, a New Zealand listed public company, have informed the Securities Commission that they wish the company to obtain an opinion from a barrister as to whether the company has a cause of action in the High Court against any insider in respect of suspected insider trading. Subject to the approval of the Securities Commission any shareholder may give notice to the company requiring the company to seek a legal opinion on this matter. The Commission has decided to approve that action. To ensure that the barrister is able to prepare his opinion promptly and efficiently the Commission has been receiving evidence and reviewing all trading in the shares of Wilson Neill over the past year. The Commission has not yet approved the appointment of any particular barrister. It expects to do so shortly.
John Farrell
Chief Executive
Securities Commission
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