Du Val investor action tossed, likened to ‘insurance scheme’
Case brought by former investors and Du Val shareholders struck out, with judge suggesting imposing duty of care on the FMA would create a ‘perverse incentive’ on the regulator to avoid getting involved with issuers in future.
Minority shareholders in Du Val Property Group won’t have their day in court, after the High Court agreed with the Financial Markets Authority that the case should be struck out.
The shareholders – who held the bulk of the 22% of shares in the company not held by Du Val founders Kenyon and
