Advice was required by investors in relation to false and misleading statements made to induce them to invest in a large group of companies. It is alleged that the investors were misled as to the inherent value of the business with its value said to be more than £50m when the value of the business was nowhere near this amount.
After a number of years, the investors realised from a document belonging to the company that the investors may well have been misled. This led to the investors narrowing their focus to misrepresentation of value, and pursuing a claim against not only the company in which they invested, but also the individuals who caused the valuation to be produced to them. Losses are estimated to be in excess of £400,000.