| By Claire Aird and Kathryn Magann An activist who distributed a fake press release that caused a coal company's share price to plummet is unlikely to be jailed after prosecutors decided not to request a custodial sentence. Jonathan Moylan appeared in the Supreme Court in Sydney today after pleading guilty to disseminating false or misleading information affecting market participation. Moylan distributed a fake statement to the media purportedly from the ANZ bank in January 2013, which said the bank was withdrawing $1.2 billion in funding from the Maules Creek mine project, in north-west New South Wales. The false information was published by some media outlets and caused a temporary $314 million drop in Whitehaven Coal's market value before a trading halt was put in place and the hoax was revealed. More » |
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