Court blasts short-seller for ‘false’ Rural Funds Group allegations

The judgment said the disseminations from Bonitas and Mr Wiechert “were of the most serious kind” and noted that they did not check with RFG on any of the matters they made public and noted the obvious commercial interest in depressing the RFG share price.

“I have no difficulty in concluding that they did not care whether what they were saying was false.”

Bonitas and Mr Wiechert declined to defend themselves in court.

“Australian courts have no jurisdiction over us, and we will contest enforcement of any orders or judgments you obtain that certainly will be contrary to the discoverable facts, as well as United States and Texas law and policy,” Mr Wiechert said in an email to RFG’s lawyers which was submitted before the court.

The court is expected to make an assessment of damages but the judgment said this would not include profits made by Bonitas as a result of the contravention.


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