Millinium sues four for losses and damage

Millinium Capital Managers has filed court proceedings against four defendants for breach of contract and consumer law which it says led to losses and damages.

According to a filing on the Australian Securities Exchange (ASX), Millinium sued Soma Group Limited, Logic Fund Management Limited, Gregory Phillipe Marshall and Paul Chamberlain.

Millinium alleged the conduct of the defendants contravened section 18 of the Australian Consumer Law (Schedule 2 to the Competition and Consumer Act 2010), section 1041E of the Corporations Act 2001 and/or section 1041H of the Act.

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It also alleged Soma and Marshall breached the terms of a contract with Millinium.

The firm was now seeking compensation and/or damages with respect to its loss and damage it suffered as a result of the defendants’ alleged actions.

Earlier this year, the firm made a claim for $2.4 million against a former adviser of the Millinium Alternative Fund for misconduct.

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