PROSPECTUS BY LATEC
Profit Figures ‘Over-Stated’
(N.Z. Press Assn.—Copyright) SYDNEY, June 29.
Profit figures given in a Latec Company prospectus presented a "grossly misleading figure on the group's financial health,” a Central Court Magistrate said today. The Magistrate (Mr H. Berman, S.M.) said evidence clearly established prima facie that profit figures shown in the prospectus were overstated. He committed for trial at Newcastle Quarter Sessions two former Latec Company directors. Mr Berman was giving his decision on charges brought by summons against the two former directors Robert Arthur Cattell, aged 53, of Tugun (Queensland), and his brother, Charles Leslie Cattell, aged 51, of Strathfield (Sydney). Each was charged with having concurred in the making, publishing and circulating of the false statement, while they were directors of Latec Investments, Ltd., between December 16, 1960, and April 30, 1961, with intent to induce people to advance monies to the company.
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Bibliographic details
Press, Volume CVII, Issue 31409, 30 June 1967, Page 14
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148PROSPECTUS BY LATEC Press, Volume CVII, Issue 31409, 30 June 1967, Page 14
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