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Investors have met Corporate Travel Management’s return to trading after more than 12 months with surprising optimism despite an 85 per cent slump in shares following an admission it overcharged clients by hundreds of millions of dollars and would have to rework years of accounts.
The company stopped trading in August last year, and has since lost its founder and chief executive Jamie Pherous after disclosing it would have to return $240 million to customers and had misstated accounts for years.
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