PropNex Subsidiary Faces Legal Claim Over Salesperson's Advice
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PropNex (SGX:OYY said its wholly owned unit, PropNex Realty, is a co-defendant in a lawsuit filed in the High Court of Singapore, according to a Tuesday filing on the local bourse. The claimant seeks damages from PropNex Realty for alleged vicarious liability related to the actions of one of its salespersons and purported advice on certain property transactions, the company said in a Tuesday filing. PropNex, after consulting its legal counsel, said it intends to defend the case vigorously and has filed a notice of intention to contest.
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