The outcome included settlement of all third-party claims. Photo / Fairfax Media via Getty Images
A shareholder class action brought against failed Intueri Education Group has been settled, a lawyer for the claim says.
Lawyer Fionnghuala Cuncannon said on Friday the class action proceeding brought in respect of the initial public offering of shares in Intueri, and the subsequent trading of shares, had
been settled by agreement between the parties.
The confidential settlement included settlement of all third-party claims, she said.
A class action against Intueri’s promoters and directors was brought on behalf of shareholders in 2020 to recover financial losses they suffered as a result of the company’s collapse in early 2017.
Towards the end of 2019, about 300 Intueri investors had signed up to the action, claiming losses of about $50 million.
