Penrich investors set sights on advisory firm

Penrich investors set sights on advisory firm
The group intends to file its claim in the high court later this month. (Image: Getty)
Paul McBeth
Investors bilked by the Penrich fund are setting their sights on the advisory firm that steered them into what ultimately turned out to be a fraud.The group’s legal team – Michael Ring QC and Thorn Law – is preparing a statement of claim against the firm and its director, accusing them of failing to provide competent financial advice when recommending they invest in Penrich. The claim is expected to be filed this month in the high court at Auckland.The Penrich investors, the advisory firm and its director have name suppression...

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