Mallesons refers United Petroleum class action litigation funders to ASIC

Knightsbridge Litigation Funding and UP Capital have been referred to the Australian Securities and Investments Commission over investor marketing for a $5.4 million raise backing a class action against United Petroleum, after allegedly describing the claim as having a $222 million “pleaded value” that does not appear in the pleadings and promoting targeted investor returns of 175% to 400%.

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