IMF Bentham Ltd
(ASX:IMF) has proposed to fund a class action against embattled infant formula maker Bellamy’s
(ASX:BAL) on a “conditional basis”.
This proposed class action will be conducted by Slater & Gordon Lawyers.
The plaintiffs will be shareholders who purchased shares in Bellamy’s between 14 April and 9 December 2016.
It will be alleged that Bellamy’s engaged in misleading or deceptive conduct and breached its continuous disclosure obligations regarding its trading prospects and future earnings performance.
IMF Bentham posted a net profit of $20.9 million at 30 June 2016.
