Are you in VIC? If not, please change below.

In your state, you are required to confirm you wish to access this information. Please enter 'QLD' or 'WA' in the field below to continue.

No thanks

Claims against Guvera Limited

Older couple on the coast | Shine Lawyers

Peter Coggins | Shine Lawyers Written by:
Peter Coggins
National Manager - Professional Negligence

Shine Lawyers is investigating claims for compensation against accountants who made recommendations to their clients to invest in Guvera Limited in the period prior to Guvera’s failed attempt at an IPO.

Shine’s investigations have revealed that numerous “mum and dad” investors were represented to Guvera as being “sophisticated investors” so as to gain access to Guvera shares in the pre-IPO stage.

Many of these investors fell far short of what the Corporations Act regards as sophisticated investors, such that their investment in Guvera at the pre-IPO stage was highly inappropriate and they were not protected by the usual safeguards.

Shine’s investigations have further revealed that some of the accountants making these investment recommendations had their own significant investments in Guvera and/or were receiving a benefit of some kind, giving rise to significant undisclosed conflicts of interest in many cases.

Finally, Shine understands that in some cases after an investor had purchased Guvera shares, they would be contacted directly by a representative from a private equity firm encouraging the investor to make further purchases of Guvera shares, in circumstances where the investors were not provided with the usual safeguards for financial advice of this nature.

If you have invested in Guvera in these circumstances you should contact Shine for an assessment of a potential claim.

Written by Peter Coggins on . Last modified: October 11, 2017.

Join the discussion

Share this article:

There are 0 comments. Be the first!

Choosing the right financial advisor

With the end of the financial year approaching, now is the time to find the right financial advisor. While a good accountant can help you get more tax back or reduce the amount you have to pay, a financial advisor can assist in providing sound advice on how to save and invest your money. What […]

Read more

How safe are your investment funds?

How safe are your investment funds? The Shine Lawyers’ Professional Negligence team has a timely reminder for ordinary Australians looking to invest their hard earned savings. Managed funds – no matter how professionally they are packaged and marketed – must be treated with extra caution. The big banks are very tightly regulated but managed super […]

Read more

Misleading and deceptive conduct explained

You might have come across the phrase ‘misleading or deceptive conduct’ before, and wondered what it meant in the legal world. The answer lies in section 18 of the Australian Consumer Law: “A person must not, in trade or commerce, engage in conduct that is misleading or deceptive or is likely to mislead or deceive.” […]

Read more

What happens when my lawyer has their licence revoked?

It is a lawyer’s legal duty and moral responsibility to act and represent their clients in an honest and professional manner. In order to ensure that lawyers meet this high standard, they are required to hold and continually renew a practicing licence or certificate. However, if your lawyer’s licence is revoked or you are concerned […]

Read more