Litigation funder IMF Australia announced that it has “issued a class action” against OZ Minerals in the Federal Court of Australia, on behalf of IMF clients who purchased OZ shares between August 21st, 2008 and the end of November 2008. IMF contends that OZ engaged in deceptive conduct by not disclosing debt refinancing details, when it was formed by a merger between Oxiana and Zinifex in March last year.
Under the class action process in place in Australias, IMF announced its intention to fund the class action in December 2008.
