Regulatory Alerts2025-11-26
ASIC Sues Former Electro Optic Systems CEO and Director Ben Greene for Breach of Director’s Duties
The Australian Securities and Investments Commission (ASIC) has commenced civil penalty proceedings against Dr. Ben Greene, former CEO and director of Electro Optic Systems Holdings Limited, alleging breaches of director’s duties. ASIC alleges that Dr. Greene failed to exercise due care and diligence regarding material revenue forecast downgrades in mid-2022, knowingly voting to defer a mandatory ASX disclosure for fourteen weeks. The regulator is seeking civil penalties, director disqualification orders, and formal declarations against Dr. Greene to uphold market integrity and enforce continuous disclosure obligations.
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