May 24, 2018 / 11:43 PM / a year ago

Australia's Litigation Capital to fund shareholder class action against Quintis

May 25 (Reuters) - Australia’s Litigation Capital Management will fund a shareholder class-action against sandalwood distributor Quintis Ltd as well as its auditor Ernst & Young, Litigation said in a statement to the Australian bourse on Friday.

The claim alleges that financial reports of 2015 and 2016 significantly over-stated the value of Quintis’ assets and the amount of Quintis’ profits in those years.

The class-action commenced on Friday in Sydney in the Federal Court of Australia.

Reporting by Sumeet Gaikwad in Bengaluru; Editing by Muralikumar Anantharaman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below