LEGAL funder IMF International yesterday said it will find an investor class action against MFS Investment and its auditors KPMG.
IMF will fund a class action on behalf of the Premium Income Fund which is now managed by Wellington Investment Management Ltd.
The class action will also include the directors of MFS Investment Management and the company’s auditors KPMG.
The claim is currently unspecified and relate to alleged beaches by the MFS directors and KPMG partners of the Corporations Act in 2005, 2006 and 2007.
All unit holders who held units as at January 29 2008 are eligible to participate in the claim which IMF will fund subject to due diligence and a level of unit holder participation acceptable to IMF.
Australian Property Journal
