Feltex defendants pour scorn on expert witnesses

Thu, 05 Jun 2014

By Jonathan Underhill Jun. 5 (BusinessDesk) - Lawyers for directors in the Feltex Carpets shareholder lawsuit say the plaintiff has failed to draw a link between alleged misleading statements in the carpet maker's 2004 initial public offering prospectus and its eventual failure in 2006. Alan Galbraith QC told the High Court in Wellington that plaintiff Eric Houghton had presented a "res ipsa loquitur" argument (Latin for" the thing speaks for itself") that Feltex's performance "declined sharply in the second half of the 2005 financial yea...

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