Feltex claimants not ready to start stage two today

Mon, 04 Nov 2019

Aggrieved Feltex investors have sought a last-minute delay to the second part of a decade-long claim scheduled to start in the High Court at Wellington this morning. Eric Houghton's $185 million claim on behalf of more than 3,000 Feltex Carpets shareholders is now at the valuation or quantum stage after the Supreme Court ruled last year the carpet-maker's 2004 prospectus had an untrue statement and that could lead to liability under the Securities Act.Feltex collapsed less than two years after going public, and the investor claim against...

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