Dick Smith shareholders who bought into the retailer’s $520 million initial public offer almost four years ago may be able to recoup some of their investment by joining a second class action against the failed retailer.
Litigation funder ICP is finalising funding for a $200 million shareholder class action against Dick Smith after spending the last six months trawling through the company’s accounts and initial public offer documents.
The proposed class action, which is conditional on sufficient numbers of shareholders joining the suit, could be the second against Dick Smith in a month.
Late last month Bannister Law, backed by British litigation funder Vannin Capital, filed a class action in the Supreme Court of NSW against DSH…
Read the full article at: http://www.afr.com/business/retail/second-dick-smith-class-action-in-the-wings-20171019-gz43ft