Home Capital responds to investor's claim

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. 

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