Expert statement defence: accuracy and reasonable belief in expert competence and unwithdrawn consent limits prospectus liability. The amendment creates a defence for misleading statements attributed to an expert where the statement was a correct and fair representation or correct ... Summary
Expert statement defence: accuracy and reasonable belief in expert competence and unwithdrawn consent limits prospectus liability.
The amendment creates a defence for misleading statements attributed to an expert where the statement was a correct and fair representation or correct copy/extract of an expert report, and the defendant had reasonable ground to believe and did believe until issue that the expert was competent and had given the required consent to the prospectus and had not withdrawn it before registration delivery or, to the defendant's knowledge, before allotment.
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