Hong Kong, July 2 -- An Australian court has found Rex Airlines breached continuous disclosure obligations when it failed to disclose the likelihood of a profit downgrade until months after the company first became aware of the state of its accounts. Read More The legal proceedings were brought against Rex Airlines and four company directors Lim Kim Hai, John Sharp, Lincoln Pan and Sid Khotkar by the Australian Securities and Investments Commission (ASIC). The NSW Supreme Court judgment, handed down yesterday (June 30), said Rex investors were left to "proceed on a misleading basis that Rex continued to have reasonable grounds for optimism as to positive operating profits" for the 2022-23 financial after the company failed to correct that r...