The litigation funder, IMF Bentham said it would pursue claims...

The litigation funder, IMF Bentham said it would pursue claims of certain and former shareholders conducted by law firm Piper Alderman’s Brisbane office.

The claims relate to alleged misleading and deceptive statements made to the ASX by Kagara between September 30, 2010 and April 26, 2012.

“The proposed claim will allege the directors made misleading representations to the market concerning Kagara’s net profit (or loss) and its net assets, and did not disclose certain information to the market in its half-yearly and annual reports from 29 September 2010,” IMF said.

Shares in the miner were suspended on April 26, 2012 over a rescue funding package.

When that package didn’t eventuate, the heavily indebted miner called in the administrators on April 29, and was placed into liquidation the following year.

Former shareholders of Kagara have until September 2 to register their interest, and the action will only proceed if IMF signs up sufficient claimants with valid claims.

http://www.imf.com.au/cases/register/kagara-limited-overview



https://www.businessnews.com.au/article/IMF-to-fund-Kagara-class-action

HC EXPERTS - SHOULD WE CONTACT THIS LAW FIRM FOR CLASS ACTION. SEEMS A LOT SMALLER RETURN THAN NMDC BACKED LEGACY ????