The New Zealand Shareholders Association says it is named as second defendant in a defamation suit brought by former Hanover Finance executives, Mark Hotchin and Eric Watson.
The claim relates to media interviews conducted in 2009.
NZSA chairman John Hawkins says the association will vigorously defend the claim, which it rejects as completely without merit.
The association was chaired by Bruce Sheppard in 2009.
Mr Hotchin is also suing New Zealand Herald publisher APN and business commentator and fund manager Brian Gaynor for defamation.