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Blue Sky Class Action Investigation

Shine Lawyers is currently investigating the statutory accounts of Blue Sky Alternative Investments (ASX:BLA) in relation to possible overstatement of earnings on its assets which may have led to an overinflated share price to investors.

BLA shares were placed into voluntary suspension on 28 March 2018 following a report published by Glaucus Research Group concerning alleged issues with BLA’s fee earning assets under management.

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. If Shine Lawyers’ due diligence uncovers further evidence that BLA may have acted in breach of its statutory reporting duties, and depending on the outcome of the administration of BLA, Shine will likely commence a class action on behalf of shareholders.

Shareholders who purchased BLA shares between 19th October 2015 and 27th March 2018 are encouraged to register their interest in a potential claim against BLA on this page.

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