PHOTO: John McGrath in happier times, ringing the bell as his real estate company floated on the ASX.  Photo: Edwina Pickles

The listed property company run by high profile real estate agent John McGrath faces scrutiny from the Australian Securities Exchange after a board and management exodus and shock earnings downgrade led to a share price plunge.

The upheaval at McGrath Ltd led to the company’s shares diving 13.8 per cent to close at 50 cents after the departures of four board members and the company’s chief executive Cameron Judson were announced.