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AAP
AAP
National
Miklos Bolza

Class action filed over Blue Sky collapse

Blue Sky Federal Court
Investors have filed a class action against Blue Sky Alternative Investments. (David Moir/AAP PHOTOS) (AAP)

Blue Sky Alternative Investments' overstated, distorted financial reports duped investors into dumping money into the fund manager before it spectacularly collapsed, a class action claims.

The Brisbane-based investment firm was worth over $1 billion in market capitalisation at its peak in 2017 but this plummeted after short-seller Glaucus reported on "wildly exaggerated" assets in the company in March 2018.

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