Home Capital has commented on a Statement of Claim from an investor who opted out of the global settlement of the securities class action against it.
Mark Cohodes alleges misrepresentation and oppressive conduct by the lender and is claiming damages of $4 million.
The claimant built a short position in Home Capital in 2014 and claims to have altered his investment strategy between March and June 2015. Home Capital says it believes it has valid defences to the claims and fully intends to defend itself.
It adds that it “looks forward to examining the conduct of Mr Cohodes.”
Including this latest claim, Home Capital has received claims for all but 200,000 of the common shares which were opted out of the global settlement.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: