Super Retail Group CEO Anthony Heraghty has offloaded A$2.65 million worth of shares as part of a legal settlement, according to a recent ASX filing.

The statement, lodged Monday, revealed Heraghty no longer holds an indirect interest in 176,893 shares previously held via the A&G Heraghty Trust, which is believed to have been jointly owned with his former spouse.

The update was required due to his role as a director of the company, which owns Rebel, Supercheap Auto, Macpac, and BCF.

“The changes give effect to Mr Heraghty’s obligations in connection with [court] orders,” the ASX noted, confirming the share transfer is part of the finalisation of ongoing legal proceedings.

This comes as Heraghty remains embroiled in a high-profile Federal Court case involving former Super Retail executives Rebecca Farrell and Amelia Berczelly.

The pair allege workplace bullying and inappropriate conduct, including claims of a secret affair between Heraghty and then-head of HR Jane Kelly – an allegation Super Retail strongly denies.

Court documents filed in April detail claims of a three-year affair, with one incident allegedly witnessed at a 2022 leadership meeting.

However, Super Retail has pushed back, arguing that Farrell herself dismissed the rumours and that gossip was not widespread.

On Monday, Federal Court Justice Michael Lee criticised both sides over the case’s complexity and ballooning costs, calling the situation “completely unacceptable”.

He warned that he may compel parties to agree on facts to avoid further delays.

The case, which has sparked media and market interest, continues in the Federal Court.