Australian court says Fortescue founder didn’t mislead investors

Australian iron ore magnate Andrew Forrest and Fortescue Metals Group Ltd won a High Court appeal to overturn a conviction for misleading investors, allowing the billionaire to return as an executive director to the company he founded.

That in turn will bring clarity to the direction the world’s No.4 iron ore miner will take as it struggles with heavy debts, ebbing demand from China and sliding iron ore prices.

via Business feed http://www.scmp.com/business/companies/article/1052166/australian-court-says-fortescue-founder-didn%E2%80%99t-mislead-investors