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Category: Archive

Cork fraud

February 16, 2011

By Staff Reporter

Outrage after the fall: failed Cork-based stockbroking firm W. and R. Morrogh has had a class-action lawsuit filed against it by former clients, seeking damages in excess of euro 1 million in the High Court.

Investor Liam Shorten, who stands to lose close to euro 100,000, has established the Morrogh Action Group, according to the Examiner newspaper. Shorten said a disappointing but very angry crowd of about 20 people attended a meeting in the Imperial Hotel this week to establish the action group.

The Irish Stock Exchange closed the company a year ago, after the company was found to have a euro 10 million shortfall.

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