Shareholders of failed insurance company CBL Corporation, have filed class action against the former directors
Shareholders of failed insurance company CBL Corporation, have filed class action against the former directors
18 October 2019
The company, which is in liquidation, collapsed in 2018 - two years after it was listed on the Kiwi and Australian stock exchanges.
One plaintiff, Harbour Asset Management managing director Andrew Bascand, say legal action's the only way shareholders can get any money back.
The legal action claims there were false or misleading statements made in the public offer prospectus in September 2015.
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