A claim on behalf of investors in Intueri Education Group Limited in a litigation-funded proceeding against its directors, and its parent company and its directors.
Cuncannon acted for Intueri shareholders to recover the significant financial losses they suffered following the company’s collapse in early 2017. The claim alleged that defects in Intueri’s initial public offering documents, and subsequent breaches of continuous disclosure obligations, caused shareholders to suffer loss.
On 27 September 2024, Cuncannon confirmed that the Intueri class action has been settled. The settlement includes settlement of all third party claims. The terms of the settlement are confidential.
On 30 September 2024, the claimant litigation committee filed an application in the Auckland High Court seeking orders that the Court approves the terms on which settlement funds are to be distributed to claimants.