Boral shareholder class action
Maurice Blackburn has filed a class action alleging Boral Ltd (BLD:ASX) engaged in misleading and deceptive conduct and breached its continuous disclosure obligations in the period 21 November 2016 to 10 February 2020.
The class action concerns Boral’s announcements on 5 December 2019 and 10 February 2020 that it had identified ‘financial irregularities’ in its North American Windows business, involving misreporting including in relation to inventory levels and raw material and labour costs. Following these announcements, Boral’s share price fell materially.
The class action claim period has been expanded to include people who acquired Boral ordinary shares, American Depository Receipts and/or Equity Swaps (Boral Securities) in the period 21 November 2016 to 10 February 2020.
Register your interest to participate in the class action
Am I eligible to join the Boral shareholder class action?
You are eligible to register your interest in the class action if you purchased Boral Securities during the period 21 November 2016 to 10 February 2020.
Registration is cost and risk free.
Class Action against Boral
The claim alleges that Boral breached its continuous disclosure obligations under the Corporations Act 2001 (Cth) and/or engaged in misleading or deceptive conduct in relation to its North American Windows business.
The claim concerns Boral’s announcement on 5 December 2019 that it had identified ‘financial irregularities’ in its Window business. More information about these financial irregularities was revealed by Boral at the time of the announcement of its preliminary half year results on 10 February 2020. Boral announced that finance personnel within the Windows business manipulated accounts and financial statements to artificially inflate the overall profitability and health of the Windows business. Boral said that the misconduct occurred over a 20-month period and that the irregularities would impact FY2020 and prior year results.
You will not be ‘out of pocket’ as a result of registering or participating in the Maurice Blackburn class action. If the case is successful, legal costs will be recovered from the compensation received. If the case is not successful, you will not be required to pay anything.
Frequently Asked Questions
Maurice Blackburn is Australia's leading class actions law firm with an unparalleled record of helping our clients secure the nation’s largest class action recoveries, totalling over $3 billion since 1998. Maurice Blackburn is the only Australian firm to have recovered in excess of $100 million in shareholder class actions, a feat we have achieved on seven occasions.
Registration is cost and risk free.
You are eligible to register your interest in the class action if you acquired Boral ordinary shares, American Depository Receipts and/or Equity Swaps (Boral Securities) during the period 21 November 2016 to 10 February 2020.
During the online registration process, we will ask you for the following details:
- an email address, which you check regularly;
- the claimant’s Holder Identifier Number (HIN) or relevant Security Holder Reference Number (SRN), if you know it;
- information on your shareholdings:
- if the claimant’s shares are held on his, her or its behalf by another person or entity (such as a broker or custodian), details of both those persons or entities and the capacities in which they held those shares;
- if the claimant holds the shares jointly with another person, that other person’s name;
- if the claimant has multiple holdings of shares, separate transaction details for each holding;
- the number of Boral (BLD) Securities that the claimant held at the open of trading on 21 November 2016
- the date, quantity and price of the claimant’s Boral (BLD) Securities purchases and sales from the commencement of trading on 21 November 2016 to the present.
Institutional investors are not required to provide details of holdings and Boral Securities transactions. We will contact you to obtain that information.
Maurice Blackburn's class action
record is second to none.
We are the only Australian class actions firm to deliver $100M+ settlements to clients in shareholder and listed securities actions, and have done so on seven occasions.
We've recovered in excess of $3 billion for wronged clients since the inception of our class actions practice in 1998.
Our reputation for excellence in class actions is unparalleled, increasing our chances of:
Lower cost to clients
Andrew WatsonNational Head of Class Actions, Melbourne
"I'm an experienced litigator in class actions, particularly for shareholders who have been victims of corporate misconduct."
Julian SchimmelPrincipal Lawyer, Sydney
"Class actions are a unique legal mechanism that have helped hundreds of thousands of people receive compensation after mistreatment at the hands of powerful companies, and it’s gratifying to help people get access to justice when otherwise it would’ve been difficult for them."