Fortress wants FSCA to probe asset managers who made allegations against group
The property firm wants Financial Sector Conduct Authority to find out how short-sellers and others weakened share price and cost investors more than R100bn
Fortress, one of the former members of the Resilient stable of property companies, says the Financial Sector Conduct Authority (FSCA) must now ascertain how short sellers and asset managers deliberately weakened its share price in 2018, costing investors more than R100bn. Robin Lockhart-Ross, an independent nonexecutive director at Fortress, said the company wanted the FSCA to adequately probe parties that had made accusations against Fortress.
The industrial and commuter retail landlord was responding to a report released by advisory firm PwC at the weekend, which said it was unable to find any evidence that the company’s governance had been inadequate in 2017 and 2018 but that there had been irregularities in the conduct of some of its longer-standing directors in the-run up to its 2009 listing, including CEO Mark Stevens and current chair Iraj Abedian...
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