Wednesday 4 – Friday 6 May 2022
The 1st, 2nd and 5th Respondents, appeal the judgment of Johnson J dated 31 March 2021, whereby he found that the Petitioners had been unfairly prejudiced at the hands of the Investor, and directed: that the active Respondents purchase the Petitioners’ shares and gave case management directions regarding valuation issues.
This was an unfair prejudice petition brought under s994 of the Companies Act 2006. The Petitioners were minority shareholders in Compound Photonics Group Limited (CPGL), including a former director and chairman (Mr Faulkner is 1st Petitioner) and a former director and CEO (Dr Sachs is 2nd Petitioner). The remaining 67 Petitioners are individual investors who were introduced to CPGL, and the 2nd Petitioner by the 1st Petitioner, in his former role as an independent financial adviser. The 2nd and 5th Respondents are the present majority shareholders in CPGL. The 1st Respondent was a majority shareholder at relevant times in the lower court proceedings.