Finance

Almost half of CBL shareholders sign up to LPF-backed action

Jenny Ruth
Mon, 09 Dec 2019

The LPF Group-backed class action against collapsed insurance company CBL Corp and its directors now has nearly 50 percent of eligible shareholders signed up to its suit.Harbour Asset Management managing director Andrew Bascand, who chairs the shareholder group, said investors owning about 60 million CBL shares have now signed up.In addition to Harbour and Australia-based Argo Investments, which together own more than 27 million shares, "a large number of other eligible shareholders have joined our action to try and get some of their losses bac...

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