ASIC confirms no enforcement action against Super Retail board, case against Ex-CEO Heraghty proceeds
Corporate regulator files case in Federal Court as Super Retail faces shareholders at annual general meeting.
The corporate regulator will not take enforcement action against Super Retail Group or its directors over the scandal that led to the sacking of former chief executive Anthony Heraghty, the company has announced. The group will, however, fund Heraghty’s defence against the legal action brought by the Australian Securities and Investments Commission, which alleges he breached director’s duties by failing to disclose a relationship with a senior employee.