Equititrust Limited Class Action
Update - Monday, 13th February 2012
Piper Alderman is currently finalising the pleadings to commence a class action against Equititrust Limited ("the Company") and a number of its directors. The Court documents are expected to be filed in the coming weeks. Unit holders who have joined or propose to join the class action will enter a funding agreement with International Litigation Partners No. 1 Ltd in which the costs associated with the class action are covered by the funder in exchange for a percentage of any recovery from the action.
The class action will plead a case for breach of duties by the Company and several of its directors, claims of imprudent investments by the Company and its directors, and for other breaches of the Corporations Act.
It is essential that Piper Alderman has the names of those unit holders who wish to participate so that we are able to confirm who we represent and ensure that the claims are properly pleaded. Further, the pleadings will only seek to recover damages for those people who wish to participate and have indicated their agreement by signing and returning the funding agreement.
Should you wish to join the class action it is now urgent that you contact Piper Alderman. Please contact Chris Martin: chris.martin@piperalderman.com.au.
