Bannister Law (BL) was investigating on behalf of Retail Food Group (RFG) shareholders whether, in failing to disclose to the ASX the existence of a management deal between Exit 57 Investments and RFG, RFG failed to comply with its disclosure obligations contained in the Corporations Act and ASX listing rule 3.1.
The investigation looked at:
(1) the disclosure provided to franchisees upon purchase and any representations made to franchisees; and
(2) the operation of the affairs under the franchise agreement; and
(3) any potential breaches in the franchise conduct of conduct, the Australia Consumer Law and the Corporations Law.
Following this investigation, after reviewing documentation and based on the merits of the case, Bannister Law was unable to secure funding and has decided to not pursue the case on behalf of franchisees.
If you feel you are affected and wish to continue pursuing an action against Retail Food Group, we suggest contacting your State Tribunal (i.e. NCAT, VCAT, QCAT).