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Harvey Norman A$35 Million Court Penalty Triggers Adverse Publicity Notice

Harvey Norman logoHarvey Norman
Sig4.25Sen-5.80Env0.00Soc0.00Gov-6.60

Harvey Norman Holdings acknowledged a past Federal Court of Australia decision in ASIC v Latitude Financial Services and Harvey Norman. The ruling imposed a A$35,000,000 pecuniary penalty, required the company to share additional costs with Latitude, and mandated publication of an adverse publicity notice, adding compliance risk despite A$16,200,000 already accrued.

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