A judge has approved a $1.3 million settlement in a class action by investors in a Melbourne apartment development, despite reservations about the lion’s share going to the law firm that brought the case.
A court has found that investment mentoring firm The Property Mentors made misleading statements to investors about the estimated timeframe and returns of a failed development in Perth.
Investors in an apartment development in Melbourne have brought a class action against the responsible managers for two managed investment schemes, alleging their funds were misused.
A court has ordered the winding up of Askk Investment Group and the unregistered managed investment scheme it operated in Beveridge, Victoria, that raised more than $11 million from investors.