Feltex appeal reprises 'squeeze the lemon' email, attacks lack of adverse trends in prospectus

Feltex appeal reprises 'squeeze the lemon' email, attacks lack of adverse trends in prospectus
Jonathan Underhill
By Jonathan Underhill April 11 (BusinessDesk) - Lawyer Colin Carruthers opened for shareholders in the Feltex Carpets appeal by reminding the court that the Securities Act is a law to protect consumers and allow them to rely on a prospectus, whereas he said an email from the vendor showed they saw the failed company as a lemon to be squeezed. Carruthers QC is leading the Court of Appeal hearing for shareholders led by Eric Houghton who lost in the High Court in a 2014 lawsuit that had sought to hold directors and promoters liable for alle...