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Quintis investors’ class action over disclosure claims

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On September 8, 2017, Posted by , In In The News, With Comments Off on Quintis investors’ class action over disclosure claims

A class action on behalf of shareholders in the embattled sandalwood company Quintis was filed in Federal Court today.

Filed by Bannister Law, it alleges Quintis failed to inform the market about the loss of important supply contracts between December 16, 2016 and May 10, 2017, contravening its continuous disclosure obligations.

The claim alleges skincare business Galderma, a subsidiary of multinational corporation Nestle, terminated a large long-term sandalwood oil supply contract with Quintis-subsidary Santalis last December, but the information was not disclosed to the Australian Stock Exchange until May.

Read more here.

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