ASIC v Citigroup commences

The trial of ASIC’s action against Citigroup for conflicts of interest and insider trading in relation to the Toll takeover of Patrick (commenced last year) has started (see The Australian’s report).

ASIC’s further amended statement of claim (pdf) can be downloaded here.

UPDATE: Sox First has a copy of Citigroup’s opening statement in its defence.

UPDATE: Closing submissions

UPDATE: Decision

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