Dick Smith in Forrest Hill. Picture: Luis Enrique Ascui/The Australian
THE insurers of the former directors of collapsed electronics retailer Dick Smith could be hit with a hefty bill from disgruntled shareholders if a class-action lawsuit gets the go-ahead and proves successful.
Just under 1000 former shareholders of the company, who individually lost anywhere from $500 to nearly $2 million when the company went under in January 2016, have signed up for the class action initiated by Bannister Law and underwritten by international litigation funder Vannin Capital.
Kris Pierce, who runs a small horticulture business in Coffs Harbour, lost about $8000 in Dick Smith shares. Mr Pierce says hes only a casual investor but does his due diligence a…
Read the full article at: http://www.news.com.au/finance/business/retail/dick-smith-shareholders-launch-class-action/news-story/2e5df4b5d580e9d205c5cad77e3b04ec