Adina Thorn Lawyers
Adina Thorn Lawyers
 

Investor Class Action – FAQs

Investor Class Action


 

What is a class action?

A class action (technically, a “representative” action) is a legal claim brought by a group (class) of people against a particular defendant or defendants in respect of the same subject matter. Here, the proposed group (class) of people are shareholders of Intueri Education Group Limited (now in liquidation), who have agreed to join the proceedings.
Class actions allow access to justice for people who may not be able to bring their own individual action against the defendant(s).

What is the Intueri Shareholder class action about?

We are investigating a proposed class action on behalf of shareholders of Intueri Education Group Ltd (in liquidation) who have suffered losses as a result of purchasing shares in Intueri’s initial public offering commencing on 15 April 2014, or subsequently. The proposed claims are against Intueri’s former directors and promoters in respect of certain statements made in the IPO materials, and in respect of subsequent breaches of continuous disclosure obligations.

Who is running the Intueri Shareholder class action?

Senior barristers Neil Campbell QC and Zane Kennedy are leading the proposed claim together with Adina Thorn Lawyers. The team are highly experienced and have expertise in securities law and in bringing large class actions.

How do I join the claim?

Simply register your interest by clicking here (or return to the home page and click on the “Register Here” box) and fill out the online form. The form should take no longer than a few minutes to complete. Our team will then contact you regarding participation. There is no obligation or cost when registering your interest and completing the online form does not make you a client of Adina Thorn Lawyers or oblige you to join the class action.

Do I need to be a plaintiff to the claim to get a payment from a successful outcome?

Yes, only shareholders who have registered and been accepted for the proposed class action will be eligible for a payment from a successful outcome.

How much is my claim worth?

The value of your claim will depend on factors relevant to your particular case including the price you paid for shares and whether or not you sold your shares. We will assess the value of your claim at a later stage.

What is the cost of participating in the class action?

There is no upfront or ongoing cost to you if you have entered into a Funding Agreement. Subject to the terms of the Funding Agreement, LPF as the funder will pay the legal, expert and other costs, and will receive a percentage of recovery (after deduction of costs) only if the Intueri Shareholder class action is successful, by way of judgment or settlement.

What information / documents do I need to keep?

It is important that you retain all relevant documents (hard copy and / or electronic form) that you currently hold or are in your control, in relation to the purchase / acquisition and possible sale of shares in Intueri Education Group Limited.

Who are the defendants to the proposed claim?

The proposed claims are against certain entities and persons involved in the Intueri IPO – including Arowana International Ltd and its directors at the relevant times, and Intueri’s directors at the relevant times.

How long will any legal proceedings take?

As a guide, in our experience class actions such as this may take anywhere between a minimum of three and five years. A number of factors can influence the length of time proceedings may take, including the complexity of the litigation, any appeals brought, and the conduct of the defendants during the action.

Will I have to devote time and resources to the legal proceedings?

We have already asked you to provide much of the necessary information for your claim in the previous questionnaire. If and when we require further information (which is likely to be after proceedings have been filed) we will contact you in writing.

My shares were owned by a company / trust / jointly with another person or persons (e.g. wife, husband, or partner). Can I sign up to the class action on their behalf?

One person should accept and sign the agreements on behalf of all shareholders. Before you do so, you must have the full authority of the company / trust / other person or persons to sign up on their behalf. You will then be taken to have legally bound the legal owner or owners.

Is the information that I supply kept private and confidential?

Your personal information will only be used for the purpose of any legal proceedings brought, or as required by the Court or by law. In any other circumstances, we will seek your consent before disclosing any of your personal information. All information you provide for the purposes of the Action will otherwise be treated as confidential. The Privacy Act 1993 also applies to any personal information provided.

Please contact us if you have any concerns about confidentiality. You are also entitled to seek independent legal advice about the confidentiality of any information you provide to us.

 
For any further questions or queries please contact us at intueri@adinathorn.co.nz, or call us on +64 9 304 0662.

 

 
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