Blue Sky class action filed in Federal Court Of Australia

Shine Lawyers has filed a class action on behalf of Blue Sky Alternative Investments’ shareholders. 

The claim is against the company, two of its former directors and the group’s former auditors, Ernst & Young for alleged: 

• misleading and deceptive conduct;  

• breaches of accounting and auditing standards; and  

• breaches of the company’s continuous disclosure obligations.  

Class Actions Practice Leader, Craig Allsopp, said investors were left with worthless holdings when the company’s true financial position came to light. 

“This catastrophic financial collapse left hundreds of shareholders worse off. We’ll be looking to hold those responsible to account and try to recoup as much of the losses as we can,” Mr Allsopp said. 

Anyone who purchased shares in Blue Sky Alternative Investments (formerly ASX: BLA) between 10 February 2017 and 20 May 2019 is eligible to join the class action.