Litigation funder IMF Bentham has agreed to back a class action by Bellamy's shareholders who believe the infant formula company kept them in the dark over its financial performance.
IMF Bentham says it proposes to back the Slater and Gordon-conducted action, which alleges an alleged breach of Bellamy's continuous disclosure obligations between April 14 and December 9, 2016.
Bellamy's, whose share price has declined about 75 per cent since August, has been accused of failing to properly disclose to investors the risks of China's regulatory changes to the company's revenue.
How bizarre but I will take anything here as a positive and maybe even why SGH has moved up a pip or 2
Litigation funder IMF Bentham has agreed to back a class action...
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