Appeal court knocks back Feltex shareholder suit

Wed, 12 Oct 2016

By Paul McBeth Oct. 12 (BusinessDesk) - The Court of Appeal has dismissed former Feltex Carpets shareholder Eric Houghton's long-running suit against the promoters and directors of the failed carpet-maker, saying the only conduct that could be deemed misleading or deceptive wasn't material enough to cause loss. Justices Ellen France, Tony Randerson and Helen Winkelmann dismissed Houghton's appeal in the long-running representative action on behalf of 3,639 former shareholders over claimed failings in Feltex's 2004 prospectus. Most of...

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