Fortescue's application to the Panel accuses Hancock of "misleading statements and material omissions regarding Redstone's (a Hancock subsidiary) intentions in relation to Atlas's business, assets and employees and Redstone's ability to achieve those intentions". And also "material omissions regarding the implications of Redstone's takeover bid for Atlas' so-called term loan B facility and Hancock Prospecting's intentions in respect of financing the repayment of that facility" as well as "misleading statements about the merits, terms and operation of Redstone's takeover bid". Fortescue claims the effect of the "misleading statements and omissions" has a "coercive effect on Atlas shareholders to accept the bid (or sell on-market potentially to Redstone)". The company wants Hancock to provide a replacement bidders statement and for shares acquired by Hancock to be cancelled and unwound during the time in which it alleges the market was misinformed.