IMF Bentham Ltd Rises on Case Updates

Litigation funder, IMF Bentham Ltd (ASX: IMF) moved up by 1.7% on June 29, 2018 before market close, while the group updated the market on its Murray Goulburn unitholder class action under which funding has been made unconditional. IMF Bentham Limited (ASX: IMF) refers to its previous announcement of 6 April 2018 regarding its conditional funding of a class action against Murray Goulburn Co-Operative Co. Limited and MG Responsible Entity Limited.

The company announces that the funding of the Murray Goulburn unitholder class action, financed through its Rest of the World Funds (Fund 2 and Fund 3), is now unconditional. Investors who purchased units in the MG Unit Trust issued by MG Responsible Entity between 29 May 2015 to 26 April 2016 (inclusive) are eligible to participate in the class action. IMF (ASX: IMF) is continuing to take registrations from eligible persons.

IMF Bentham Limited (ASX: IMF) also announced that its United States investment vehicle, Bentham IMF 1 LLC (Bentham IMF 1), has agreed to fund its forty second investment. This new investment, USF42, involves the monetization of trade secrets misappropriation and breach of contract case which is being appealed by the defendant. Bentham Limited 1 has committed to fund US$11.6M for this investment. This brings total committed funding amounts, since the inception of Bentham IMF 1 in February 2017, to US$135.7M.


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