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Claims against Guvera Limited

Peter Coggins 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.

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