Regulatory Alerts2014-08-15
SEC Directive on Compensation by Adam Investments PLC for Cancelled PC Pharma PLC Trades
The Securities and Exchange Commission of Sri Lanka directed Adam Investments PLC to compensate investors for consequential losses resulting from cancelled PC Pharma PLC trades. This order was issued because Adam Investments violated the Takeovers and Mergers Code, necessitating the trade cancellation between 2:12:19 pm and 2:30 pm on 7th August 2014. Investors who suffered losses must submit their claims to Adam Investments within one calendar month from the date of the directive.
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