Expert: M.J. Aitken w/ S. Ji
Mr Warminger was accused by the FMA of ten counts of market manipulation in breach of section 11B of the Securities Markets Act 1988 (SMA). Professor Michael Aitken provided an expert wtiness report and “authoritative, compelling and clear” testimony on whether market manipulation could be established on the basis of the market data, since, in the words of Justice Venning ” …the aberration in normal trading patterns may be sufficiently significant to permit a finding of intent even in the absence of contextual evidence.” Eight out of ten instances could not support the allegations of market manipulation. Read more here.