Plaintiff lawyers have pounced on court testimony provided by venture capitalist and former Blue Sky director Elaine Stead as they prepare shareholder class action lawsuits against the collapsed investment manager.
Litigation firm Shine Lawyers, which is investigating a class action on behalf of former Blue Sky investors, has questioned whether the fallen fund manager may have “misconceived” its legal obligations to disclose material information to the market.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
