Sequoia Financial Group Limited (ASX: SEQ) (Sequoia) has commenced proceedings in the Supreme Court of Victoria against Mr Tim McGowen in relation to Sequoia’s acquisition of Informed Investor from Mr McGowen and others, pursuant to a share purchase deed dated 29 March 2022 (Share Purchase Deed).
Sequoia alleges that Mr McGowen has breached various warranties and provisions of the Share Purchase Deed and is seeking damages in the order of $3,500,000.
Sequoia will update the market further in relation to the proceedings as required.
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