Scoop has an Ethical Paywall
Due diligence process in Feltex IPO "very thorough"
Due diligence process in Feltex IPO "very thorough"
The importance of robust due diligence processes in significant capital raisings is a key take-out from the High Court decision this week clearing the former Feltex directors from liability for shareholder losses.
The Court found that the company's 2004 IPO document was not misleading under the Securities Act.
Even had misleading statements been made, the Court considered the process by which the prospectus had been settled was so thorough that the directors could prove they had reasonable grounds to believe in the accuracy of its contents.
READ MORE
Advertisement - scroll to continue reading
UN Department of Global Communications: United Nations Proposes New Global Dashboard To Measure Progress Beyond GDP
Banking Ombudsman Scheme: Fraud Check Delays Well Worth The Inconvenience, Says Banking Ombudsman
Asia Pacific AML: NZ’s Financial Crime Gap - Beyond The 'Number 8 Wire' Mentality
Westpac New Zealand: Kiwi Households Adapting Despite Widespread Cost Pressure Concerns, Westpac Survey Shows
University of Auckland: Kids’ Screen Use Linked To Long-Term Deficits In Self-Control And Attention
University of Auckland: Research To Address Equity In STEM For Māori, Pacific And Female Students
