An ASX shareholder, Rosherville Pty Ltd, has notified the exchange that it will apply for leave to commence a statutory derivative action in the Federal Court against former ASX officers and directors. The action concerns alleged breaches of duty related to the company’s failed blockchain‑based clearing and settlement system. The exchange said ASX itself was not named in the allegations, and it did not disclose the specific breaches or the remedies sought, while the court has not yet decided whether the case may proceed. The CHESS overhaul began in 2016 after ASX selected Digital Asset’s distributed‑ledger technology, with a planned launch in April 2023. The project was postponed multiple times, paused in November 2022 following an Accenture review that identified design shortcomings, and formally abandoned in May 2023. In August 2024, the Australian Securities and Investments Commission sued ASX, alleging that the board misrepresented the project’s progress to the market, and in June 2026 ASX admitted to misleading conduct linked to the effort. The Federal Court ordered ASX to pay a $14.4 million penalty and $2.1 million in costs in July 2026, after which Rosherville notified the exchange of its proposed action. The lawsuit, if permitted, would test whether shareholders can hold former executives accountable for overseeing one of Australia’s largest financial‑technology failures. The matter remains pending, with no schedule set for a ruling.