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ASIC takes tech group iSignthis to court – Sydney Morning Herald

ASIC alleges iSignthis’s disclosures led to a release of performance-based shares to the boss of the beleagured group.

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ASIC alleges the revenues derived under the agreements resulted in iSignthis achieving performance milestones that caused the allocation of 336,666,667 performance shares, a substantial majority of which were allocated to the directors of iSignthis, including to Mr Karantzis.
In November last year iSignthis was forced to admit it made a mistake and misclassified most of its revenue for the contentious half-year period ending on June 30, 2018.
The company admitted that $2.9 million of the $5 million…

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