25th March 2022 By Staff Reporter | email@example.com | @foodtickernz
Two shareholders in Oceania Natural have been fined a combined $310,000 after they admitted to charges of market manipulation and disclosure breaches.
Zhongyang (Sean) Meng and Jiashun (Sam) Qian have been ordered by the High Court to pay pecuniary penalties of $180,000 and $130,000 respectively in relation to the trading of Oceania Natural shares, shortly after the company first listed on the NZX six years ago.
Oceania Natural made food and supplement products sourced from New Zealand and the Cook Islands but was delisted and placed into liquidation in 2019.
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