Former directors and executives to be sued by shareholders of the Australian Stock Exchange

The Australian Stock Exchange (AX) shareholder, Rosherville Pty Ltd, intends to apply to the Federal Court for leave to sue, on behalf of ASX, former directors and executives for alleged breach of duty in the failed Chess Renovation Project of the block-link settlement system. Launched in 2016, the project was suspended in 2022 after repeated extensions, and subsequently abandoned the block chain programme ASX, which had admitted in June this year that it had misled the market on the progress of the project, and was fined $14.4 million in July。