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Blue Sky Class Action Investigation

Shine Lawyers is currently investigating a potential class action against Blue Sky Alternative Investments (formerly, ASX:BLA) in relation to possible breaches of its continuous disclosure obligations, breaches of capital raising disclosure obligations and/or misleading and deceptive conduct.


What is the Blue Sky Class Action Investigation about?

BLA shares were placed into voluntary suspension on 28 March 2018 following a report published by Glaucus Research Group which alleged BLA had significantly overstated its fee earning assets under management and overstated the performance of its investments.

The Glaucus Research Group Report triggered a catastrophic downturn in BLA’s share price and business, culminating in the appointment of receivers and managers on 20 May 2019. BLA also appointed voluntary administrators on 20 May 2019.

On 20 June 2019, the creditors of BLA voted to enter into a temporary deed of company arrangements that included a moratorium on all claims against BLA. On 31 May 2021, creditors of BLA voted to place BLA into liquidation, which saw the moratorium lifted.

If Shine Lawyers’ due diligence uncovers sufficient evidence that BLA has breached any of its disclosure obligations and engaged in misleading conduct, Shine will likely commence a class action on behalf of affected shareholders.

Shareholders who acquired an interest in BLA shares between 1 June 2017 and 10.07am on 12 June 2018 are encouraged to register their interest in a potential claim against BLA on this page.

Shareholders who acquired an interest in BLA shares between 1 June 2017 and 10.07am on 12 June 2018 are encouraged to register their interest in a potential claim against BLA on this page.

Why choose Shine Lawyers’ Class Action Team

Shine Lawyers’ Class Actions Team possess the skill, industry insight and dedication to deliver exceptional results for deserving Australians. We have fought for successful outcomes for our clients in class actions against high profile corporate and government entities, including Johnson & Johnson and DePuy International, Westpac Banking Corporation and the Department of Defence.

Craig Allsopp, who leads this class action investigation, has extensive experience as a solicitor and specialised expertise in shareholder class actions. Craig leads a team of highly skilled lawyers with a proven record in complex, multi-party litigation.

To learn more about our work in this area of law, visit our Class Actions page.

Can I join the Blue Sky Class Action Investigation?

To be part of this proposed class action you must have:

  • Purchased BLA shares between 1 June 2017 to 10:07 am on 12 June 2018.

If you meet this criteria, you may be entitled to compensation, and you are encouraged to express your interest in the proposed class action below.

Express your interest in the Blue Sky Class Action Investigation

To express your interest on a confidential, no-cost, no-obligation basis, please click the button below and fill out the form.

If you have any questions or require assistance, please contact our Blue Sky Class Action team at [email protected] or 1800 325 172.

Who is Shine Lawyers’ Class Action Team?

Shine Lawyers’ Class Action Team includes some of the firm’s most experienced solicitors and support staff. The team includes: