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Capital Letter: Why the Court of Appeal ruled against shareholders in the Feltex share prospectus case

On appeal, the shareholders' primary focus had shifted from the Fair Trading Act 1986 to the Securities Act 1978, with the claim in negligence abandoned.

Wed, 19 Oct 2016
 

The ill-fated 2004 public offer for shares in Feltex Carpets Ltd has led to much litigation over the years, including clarifying the law for the use of litigation funders in representative proceedings. Feltex went into liquidation in 2006 and the shares became

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