KUALA LUMPUR: The High Court has ruled that six foreign defendants, who were involved in the manipulation of Iris Corporation Bhd (Iris) shares in 2006, are permanently barred from trading in any counter on Bursa Malaysia. The six are Richard Benjamin Cohen, together with Aeneas Capital Management L.P, Priam Holdings Limited, Aeneas Portfolio Company L.P, Acadian Worldwide Inc, Thomas R. Grossman and John Suglia. The ruling marks the end to the civil suit filed by the SC in 2008. Iris, a manufacturer of smart cards for electronic passports and electronic identification cards, was, at the time still listed on Bursa Malaysia. All seven defendants were declared to have conspired to manipulate the share price of Iris in breach of sections 84(1), 85(1)(a) and 87A of the Securities Industry Act 1983, SC statement said.

Source: New Strait Times August 29, 2017 13:30 UTC