The law firm preparing a class action against Tasmanian timber...

The law firm preparing a class action against Tasmanian timber company Gunns says it has been contacted by "significantly more than 100 shareholders" who may be eligible.

Maurice Blackburn says the case will allege Gunns breached its stock market disclosure obligations before posting a 98 per cent drop in its half yearly profit.

Lawyer Ben Slade says the firm is now waiting on a final decision from litigation fund IMF Australia on whether it will fund the case.

ABC news