TerraCom Limited (ASX:TER) Reaches Agreement with ASIC on Whistleblower Proceedings
Settlement Agreement
TerraCom Limited has reached an agreement with the Australian Securities and Investments Commission (ASIC) to resolve civil proceedings related to whistleblower actions. The settlement is subject to approval by the Federal Court of Australia.
Financial Implications
Under the agreement, TerraCom will pay a $7.5 million civil penalty, with $4 million due within 28 days of the court order and $3.5 million by 30 June 2026. Additionally, TerraCom will cover ASIC’s legal costs of $1 million. ASIC’s case against TerraCom will be dismissed upon these payments.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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