Death blow for Feltex shareholder claim

Fri, 07 May 2021

Class action claimants in carpet maker Feltex were dealt a final blow by the supreme court yesterday.The top court denied Eric Houghton and 3,600 others a chance to appeal a court of appeal decision, ending the claim.Investors had already battled for more than a decade to get a ruling that the company's prospectus had an untrue statement.Despite the first stage win, the next step of working out whether investors relied on the untrue statements, and if so how much they could get in damages, will now never go ahead.Late last year, t...

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