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FINWIRES

ASX Shareholder Plans Legal Action Against Former Officers, Directors Over Chess Project

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ASX (ASX:ASX) said shareholder Rosherville plans to file an application in Australia's Federal Court to launch a statutory derivative action against certain former officers and directors of the company, according to a Wednesday filing with the bourse.

Rosherville, which would start proceedings on behalf of ASX, alleges that the former officers and directors breached certain duties in connection with the previous Chess modernization project, per the filing.

The shareholder is not making any allegations against ASX, the company said.

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