Super Retail Group, the owner of Rebel Sport, Supercheap Auto, and MacPac, announced that following its investigation, ASIC had confirmed it would not pursue enforcement action against the company, its related entities, or any current or former director or officer other than Mr Heraghty.
"Following the conclusion of its investigation, ASIC has confirmed that it is not taking enforcement action against Super Retail Group, its related entities, or any current or former director, officer, employee, agent or representative of Super Retail Group, other than Mr Heraghty," a spokesman said.
The legal action against Heraghty, who was sacked from the company in September 2025 after providing misleading information to the board about his alleged relationship with former HR boss Jane Kelly, will be heard by the Federal Court this Thursday. The hearing coincides with the company's annual general meeting, which is expected to raise questions from shareholders about the scandal and its costs.
Super Retail said it would fund Heraghty’s legal defence under a deed of indemnity, insurance, and access. The spokesman noted that Heraghty would be required to repay those costs within 90 days if it is found he was not entitled to the indemnity.
Super Retail has already spent more than $40 million on a legal battle with two former top lawyers who claimed they were bullied and harassed over a matter centred on the alleged relationship.
ASIC chair Sarah Court said the case was not about personal relationships but about whether a director properly disclosed and managed conflicts of interest and met their duties to the company and shareholders. ASIC alleges Heraghty failed to manage conflicts arising from the relationship and continued to supervise Kelly and take part in decisions affecting her employment and remuneration.
Heraghty, who was recently hired by the appliance group Winnings for an expected listing on the ASX, faces a potential ban from managing companies and fines of up to $1.56 million per breach of the Corporations Act if found in contravention of the law. He has the opportunity to file a defence to the allegations.