Disgruntled investors sue Village Life for $30m
A $30 million class action has been launched against Village Life, the company that recently considered evicting hundreds of elderly residents from their rented homes.
Law firm Slater & Gordon is running the lawsuit in the NSW Supreme Court on behalf of the shareholders.
The shareholders claim Village Life and the three directors acted in a misleading and deceptive fashion and breached the Trade Practices Act when the company failed to deliver on promises of a $15.4 million profit and construction deadlines within a two-year time frame.