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Shareholder Targets ASX Execs Over Failed Blockchain | Bitcoin and Crypto News
Description
A shareholder is poised to sue former ASX directors and officers over the botched blockchain CHESS project, claiming they breached duties during the costly tech overhaul that ultimately failed. While the ASX itself isn’t being sued, it admitted to misleading investors about the project’s progress — leading to a $14.4 million penalty and $2.1 million in legal costs from regulators. The shareholder seeks to hold specific executives accountable, potentially setting a new precedent for shareholder actions against past leadership in major corporate failures.
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