Prior to entering into liquidation, Vocation provided vocational education and training which was subsidised by the Victorian Government.
The claim alleged, among other things, that Vocation Limited made misleading or deceptive statements in, and omitted information that was required to be disclosed in its prospectus, thereby causing loss to persons who acquired an interest in Vocation shares. The claim also alleged the involvement of particular directors and officers in Vocation’s contraventions.
Further, the claim alleged PricewaterhouseCoopers caused loss to group members by making certain statements while retained to carry out an audit of Vocation Limited’s FY2014 financial report.