Prior to entering into liquidation, Vocation provided vocational education and training which was subsidised by the Victorian Government.
The claim alleges, 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 alleges the involvement of particular directors and officers in Vocation’s contraventions.
Further, the claim alleges PricewaterhouseCoopers caused loss to group members by making certain statements while retained to carry out an audit of Vocation Limited’s FY2014 financial report.
On 7 December 2018 the Court made Orders requiring group members to take steps in relation to their participation in the proceeding before 4PM AEDT on 4 March 2019 (Class Deadline).