Du Val shareholders suing FMA for negligence

See you in court, Du Val investors tell the FMA. (Image: NZME)

Fri, 18 Oct 2024

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...

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