Mooter Media appeal against AAT ruling commences

Digital media company Mooter Media (ASX:MMZ) has revealed that its appeal against an ASIC ruling kicked off yesterday.

The Administrative Appeals Tribunal (AAT) has directed ASIC to produce a list of reasons for their decision to censure the company for an alleged breach of continuous disclosure rules.

This list must be given to the court on October 27, and a further directions hearing has been ordered for November 2 in advance of the formal hearing.

MMZ shares are today trading 12.5% lower at $0.007.