Tweed promises not to pursue defaulters

Sharemarket scammer David Tweed and his company, National Exchange, were found to be in breach of the Corporations Act when it made an underpriced pre-float offer for Aevum retirement home business shares. Tweed failed to keep the offer open for 28 days, and as a result his company made undertakings not to sue any shareholders in Aevum who decided not to sell their shares to Tweed.