Crown money laundering risk class action (Crown II)

The Supreme Court of Victoria will conduct a hearing at 10:30am (AEST) on 5 September 2025 to determine whether to approve the proposed settlement of the Crown II Class Action.

The Court will only approve the proposed settlement if it is satisfied that the settlement is fair and reasonable and in the interests of the group members, including as between the group members. If the Court is not satisfied, then it will not approve the proposed settlement.

We will provide registered group members with a further update once we know the outcome of the settlement approval hearing.

If you registered your claim in the class action by 4pm (AEST) on 23 August 2024, then you do not need to do anything if you wish to participate in the proposed settlement. We will provide you with a further update after the settlement approval hearing on 5 September 2025. 

If you registered your interest in the class action after 4pm (AEST) on 23 August 2024, then you will need to seek the permission of the Court to participate in the proposed settlement by taking the steps that are set out in the Settlement Notice (which is available here) by 4pm (AEST) on 14 July 2025. 

You are eligible to participate in the proposed settlement of the Crown II Class Action if:

• you acquired Crown shares during the period between 11 December 2014 and 18 October 2020 (inclusive) (Relevant Period) and/or held Crown shares throughout the Relevant Period; and
• you also registered your claim in the class action by 4pm (AEST) on 23 August 2024. 

If you did not register your claim in the class action by 4pm (AEST) on 23 August 2024, you are not presently eligible to participate in the proposed settlement (however, you can seek the permission of the Court to participate). 

Crown will pay the sum of $72.5 million to settle the Crown II Class Action, without admission of liability, by way of three payment instalments over two years as follows: $20 million by 19 June 2025; $25 million by 11 May 2026; and $27.5 million by 10 May 2027. 

Subject to Court approval: 

• Maurice Blackburn will be paid 27.5% of each instalment of the settlement sum, being approximately $19.9 million in total, for conducting the class action; 
• the Plaintiff will receive a special payment from the settlement sum to compensate him for the time and expenditure reasonably incurred in prosecuting the class action; and
• the costs of administering the settlement will be deduced from the settlement sum (albeit those costs are expected to be wholly or substantially paid from interest accrued on the settlement sum). 

After the above deductions, the balance of the settlement sum will be distributed only to registered group members in accordance with an approved settlement distribution scheme (a draft of which is available here). 

Group members that did not register by 4pm (AEST) on 23 August 2024 will not receive monetary payments, but will still be bound by the settlement. 

At the present time, it is not possible to estimate how much (if any) each registered group member will receive by way of a distribution from the proposed settlement, because this will depend on a number of factors (including approval by the Court of certain deductions from the settlement sum, and the amount of interest earned on the settlement sum). 

Because the final instalment of the settlement sum is not due to be paid until 10 May 2027, final distributions to registered group members will not be paid until after that date. 

However, the settlement administrator may make an interim distribution to registered group members followed by a final distribution (if it determines that it is practical and economic to do so).

Group members are not, and will not be, liable for any legal costs out of their own pocket. The amounts payable to Maurice Blackburn for conducting the class action will be deducted from each instalment of the settlement sum before the balance of the settlement sum is distributed to registered group members, and will therefore be spread evenly among all registered group members.

If you did not register by 4pm (AEST) on 23 August 2024, you will not be entitled to any monetary distribution that is approved by the Court but you will be bound by the terms of the settlement, unless the Court makes an order allowing you to participate.

If you wish to seek the Court’s permission to participate you must, by 4pm (AEST) on 14 July 2025, send an email to CrownAML@mauriceblackburn.com.au attaching an affidavit or statutory declaration which:

• sets out details of your purchases and sales of Crown shares; and
• identifies the basis on which you consider the Court should grant you leave to participate even though you did not register before 4pm (AEST) on 23 August 2024. 

Any group member may, if they wish to do so, object to any aspect of the proposed settlement. If you do wish to object to any aspect of the proposed settlement, you must notify the Court in writing of your objection by:

• submitting the required information via the Supreme Court of Victoria website here; or 
• completing a ‘Notice of Objection to Proposed Settlement’ in the form of Attachment A to the Settlement Notice (which is available here), and returning it promptly to the Commercial Court Registry of the Supreme Court of Victoria at the address shown on the form. 

Any notice of objection must be submitted online or reach the Registry by no later than 4pm (AEST) on 14 July 2025. 

Any Group Member who wishes to object to any aspect of the proposed settlement must also attend the hearing at 10:30am (AEST) on 5 September 2025, either in person or with legal representation, to address the Court in relation to their objection.

Please carefully read the Settlement Notice, which contains further information in relation to the proposed settlement, and is available here. 

If you have any other questions, please email CrownAML@mauriceblackburn.com.au or call us on 1800 497 192.