Bannister Law is investigating a potential class action on behalf of shareholders against Quintis Ltd (ACN 092 200 854) following recent significant share price falls flowing from recent disclosures to the ASX by the company.
It has been reported that Quintis (QIN) lost a contract supplying Nestle on 16 December 2016, but only disclosed that fact to the ASX on 10 May 2017. Shares fell 44% on the announcement.
Bannister Law is investigating whether the directors and officers were in breach of the company’s continuous disclosure obligations in only announcing the information to the ASX on 10 May 2017. Principal Charles J Bannister, Solicitor stated: “Inadequate disclosure of this type is simply unacceptable in Australia. Continuous disclosure is at the heart of buyers confidence in the share market and impacts directly on the share price of listed entities, as this news demonstrates”. When the news was announced Quintis’ shares fell 44%.
Bannister Law encourages any shareholders whose holdings have been devalued by recent events to register their immediate interest below.
What is a class action?
Class actions are legal proceedings brought by one person on behalf of a group. Rather than each person pursuing a claim separately, a class action streamlines the process, enabling a dispute involving large numbers of people to be resolved through a single case.
For decades, Bannister Law has fought for the legal rights of Australian consumers. While we have a long history in personal injury cases, we are also running several of Australia’s most high profile and significant class actions on behalf of consumers, including: the Volkswagon emissions class action, Ford class action, Nurofen class action and more.
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