Class action law firms Shine and Piper Alderman will jointly pursue the bankrupt Blue Sky Alternative Investments, rather than file overlapping and competing cases.
Class action law firms Shine and Piper Alderman will jointly pursue the bankrupt Blue Sky Alternative Investments, rather than file potentially overlapping and competing cases.
The two firms, both investigating potential class actions, told Blue Sky investors on Tuesday that were joining forces to try to get the best potential outcome for shareholders. Blue Sky Alternative Investments went into administration and receivership in May 2019. Class action law firms including Shine and Piper Alderman are reviewing its disclosures.“These separate investigations had the potential to lead to a carriage contest, in the event that two overlapping class actions were to be filed,” the firms said in the joint statement.
“LCM will continue to fund the investigation into the proposed class action. This means any class action will have the benefit of both firms’ work to date, while also avoiding any costs and delays associated with a potential carriage contest.”, considering whether there was any overstatement of eranings on its assets which may have led to an overinflated share price to investors.
Brisbane-based Blue Sky oversaw funds with assets from a burrito chain to property investments, posting rocketing profits and share prices., dispatched research in March 2018 casting doubt on areas from how Blue Sky was valuing investments to the amount of assets under management.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Investigation launched after seven-year-old left alone on school busThe alarm was raised after staff noticed the child was missing from class this morning.
Read more »
There's a new class of crossbenchers. Can they change politics or will politics change them?Over a period of two months, I followed a group of women crossbenchers who have transformed the political landscape and are not afraid to speak their mind, writes Louise Milligan.
Read more »
Escrow blocks on ice as last year’s IPOs battleIt looks like vendors from last year’s listings will be stuck with their blocks longer than expected, as the IPO class of 2021’s struggles to beat their offer prices.
Read more »
Drew Pavlou to return to Australia while still under police suspicion of Chinese embassy bomb hoaxPolice notified Pavlou’s legal team on Friday that they had relaxed his bail conditions, pending further enquiries, for him to return on October 21.
Read more »
How a wild week in Washington changed the game for Biden and TrumpAs the midterms approach, Biden’s climate success and Trump’s legal troubles could offer Democrats unexpected hope
Read more »
How a wild week in Washington changed the game for Biden and TrumpAs the midterms approach, Biden’s climate success and Trump’s legal troubles could offer Democrats unexpected hope
Read more »