Claims dismissed by consent
A Class Action filed by Maurice Blackburn against Franklin Joel Tate, a former director of Evans & Tate Limited, was dismissed by consent on 25 September 2009 after the lead applicant, Lewis Securities Limited, was placed into liquidation. The class had 51 group members, many of whom opted out of the claim before it was dismissed.
The claim was made for losses suffered by 52 shareholders of Evans & Tate Limited when the company failed. It was alleged that Mr Tate was involved in:
- failure by the company to disclose to the market material information concerning its cash and debt position; and
- the making of a number of misleading statements made by the company to the share market between 15 August 2004 and 12 September 2005.
Costs (18 April 2008).