JOHANNESBURG (miningweekly.com) – Former directors of defunct base metals mining group Kagara may face a class action suit from shareholders, litigation funder IMF Bentham announced on Monday.
The company reported that it would fund the claims of certain current and former shareholders of Kagara, relating to alleged misleading and deceptive statements made to the market between September 30, 2010, and April 26, 2012.
Kagara entered into voluntary administration in April 2012 and went into liquidation in 2014.
Piper Alderman, in Brisbane, will conduct the class action.