May 25 (Reuters) - Australia's Litigation Capital Management LCA.AX will fund a shareholder class-action against sandalwood distributor Quintis Ltd QIN.AX as well as its auditor Ernst & Young, Litigation said in a statement to the Australian bourse on Friday.
The claim alleges that financial reports of 2015 and 2016 significantly over-stated the value of Quintis' assets and the amount of Quintis' profits in those years.
The class-action commenced on Friday in Sydney in the Federal Court of Australia.