Corporate cop sues former Super Retail boss, alleging he misled the market
The Australian Securities and Investments Commission (ASIC) is suing former Super Retail Group CEO Anthony Heraghty for allegedly failing to disclose a personal relationship with a senior executive. The regulator claims this conflict of interest breached his duties to the company and misled the market.
Why it matters
The case underscores the importance of corporate governance and transparency, particularly regarding how executive conflicts of interest are managed and disclosed to shareholders.
— 12:54pm , first published 10:38am
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Share A A A The Australian Securities and Investments Commission has taken legal action against former Super Retail Group chief executive Anthony Heraghty, alleging he breached his directors’ duties and provided misleading information to the board and financial market concerning his relationship with the group’s former head of human resources.
ASIC alleges Heraghty, who was recently hired by appliance group Winnings for an expected float on the ASX, failed to disclose and manage conflicts of interest arising from an alleged undisclosed relationship he had with a senior executive at the company.
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