IMF flags Forge class action

Bentham IMF (IMF) has flagged a likely class action against embattled Forge Group (FGE), saying it intends to fund the claims of certain shareholders against the mining services company.

The news follows Forge Group’s entrance into voluntary administration and sacking of over 1300 workers after heavy writedowns on its power station projects.

Shareholders who bought shares in the group between January 1, 2013 and held any of them until November 4, 2013 and February 11, 2014, will be eligible to participate in the claim, IMF said.