EHT unitholders file lawsuit against manager's board, claiming shortfalls in disclosure

A key allegation is that the six defendants would have known that late payment of security deposits was information relevant to investors and securityholders' investment calls

Kelly Ng

Published Wed, Jun 30, 2021 · 05:50 AM

eagle hospitality trust

Singapore

TWO investors of the beleaguered Eagle Hospitality Trust (EHT) are suing six of its manager's former and current directors for failing to make material disclosures from the time the stapled securities were offered to when the trust collapsed in or around March 2020.

Ajeet Gobindram Vaswani, a retiree, is claiming US$1.55 million for the 2,632,000 stapled securities he holds in EHT; Viresh Ajeet Vaswani, an entrepreneur, is claiming US$305,000 for his 448,000 units.