Feltex shareholder cites Court of Appeal finding on untrue statements in Supreme Court challenge

Wed, 05 Apr 2017

By Jonathan Underhill April 5 (BusinessDesk) - Former Feltex Carpets shareholder Eric Houghton's lawyer has argued in the Supreme Court that the failed company's 2004 prospectus wasn't valid because it contained untrue statements about its sales prospects. Patricia Mills for Houghton told Supreme Court Chief Justice Sian Elias and Justices Terence Arnold and Mark O'Regan that because the Feltex prospectus contained an untrue statement it wasn't a valid offer document and meant, therefore, that the company wasn't entitled to offer securit...

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