Expanded claims now open in Slater & Gordon class action

8 April 2016
Australia’s leading class action law firm, Maurice Blackburn Lawyers, has expanded the claim period for aggrieved shareholders looking to recover their investment losses in the proposed shareholder action against Slater and Gordon (SGH).

Registration is now open to shareholders who acquired an interest in SGH shares between 1 April 2015 and 28 February 2016 inclusive. Institutional investors can request a funding pack by emailing sgh@mauriceblackburn.com.au. Aggrieved investors are asked to complete the agreements by COB Friday 20 May 2016.

Maurice Blackburn has extended the period for which it is investigating disclosure breaches right up until 28 February 2016 to take account of possible losses suffered prior to SGH’s 29 February 2016 announcement of its results for the half-year ending 31 December 2015. 

Maurice Blackburn can today also reveal that after carefully negotiating the best possible deal for clients, the firm has secured the support of litigation funder International Litigation Partners on terms that are highly favourable for Australian and overseas investors and those investors will be shortly receiving materials to participate in the action.

Andrew Watson, National Head of Class Actions at Maurice Blackburn, said there was a compelling case to call for answers from SGH, and that shareholders were suitably aggrieved in seeking those answers and some redress via a class action.

“Institutional and retail investors in SGH that want the best chance to recover the maximum possible now have a clear choice to go with the nation’s leading class action law firm Maurice Blackburn, backed by what we believe are the best funding rates available,” Mr Watson said.

“More than $2 billion dollars in shareholder value has been lost in a matter of months. To shock the market on multiple occasions is not just bad luck. It raises serious questions about internal processes and about the quality and timing of information released to the market.

“We will be looking for answers to those questions and ultimately seeking to recover losses on behalf of affected shareholders. The staggering losses suffered by SGH shareholders are a stark illustration of why the laws around disclosure of material information are absolutely necessary to ensure the efficient allocation of capital and the integrity of the market.”

The 3000-plus people that have already registered to participate online will now receive a direct email to sign the relevant documents to ensure they are included in our action. Those that have yet to register can do so simply online from today by going to www.mauriceblackburn.com.au/slaterandgordon and filling out the required forms.

Institutional investors that have been awaiting their funding packs will be contacted directly, or they can proactively request a funding pack by emailing sgh@mauriceblackburn.com.au