Du Val shareholders suing FMA for negligence

Du Val shareholders suing FMA for negligence
See you in court, Du Val investors tell the FMA. (Image: NZME)
Garth Bray
Claims of manipulation, negligence and breach of statutory duty by the Financial Markets Authority have been filed in the High Court as Du Val investors seek to blame the regulator for the anticipated loss of value of their shareholdings. “Because of the statutory management predetermined wind up, distressed sales will result in loss of the mortgage value to Du Val Property Group Limited [DVPG] and consequently shareholder share value,” the claim stated.  Lead plaintiff Lindeman Investments holds a DVPG stake taken by...

More Law & Regulation

Telco fined $325k for misleading 'free' roaming claim
Law & Regulation

Telco fined $325k for misleading 'free' roaming claim

Telco 2degrees has been fined $325,000 after admitting it made misleading claims about its “free” Aussie business roaming plans.The Commerce Commission took action last year after claims made by 2degrees in its advertising campaign between 2020 and 2023 created an impression that...

Workplace safety: Compliance equals protection
Policy

Workplace safety: Compliance equals protection

The Govt says health and safety obligations will be clearer within a new system of rules.

‘Cowboys’ the reason for building consent delays
Property

‘Cowboys’ the reason for building consent delays

Building inspectors hit back at Minister Penk’s claims they are holding up consents.

NZer put $15m in betting accounts without proper checks: Austrac
Law & Regulation

NZer put $15m in betting accounts without proper checks: Austrac

The businessman deposited nearly $15m in Entain betting accounts, watchdog claimed.