Mr Davison’s numerous defences fell away in a fashion which “should have been obvious from the start”, the decide mentioned.
The shares didn’t seem inclined to a “pump and dump” scheme and there was no proof any “dump” occurred exterior regular buying and selling exercise or that Mr Kumova was concerned in a felony syndicate conducting such a scheme, Justice Lee mentioned.
He accepted Mr Kumova’s declare his social media posts about particular shares he had invested in rising in worth had been prideful boasts, not designed to encourage others to speculate.
“It was at least in large part an exercise in swaggering braggadocio,” Justice Lee mentioned.
Mr Davison had pursued an ongoing marketing campaign towards Mr Kumova via his personal Twitter account and complaints to regulators, and an apology he supplied the court docket was not accepted as real by the decide.
Post-Christmas heatwave brings again scorching Aussie summer time
Justice Lee additionally criticised the conduct of Mr Davison’s authorized workforce, withholding paperwork and commenting publicly on the continuing case, when deciding to award aggravated damages.
Mr Kumova has been awarded $275,000 in damages with a future listening to to find out fee of authorized prices and restrictions on materials being republished.
