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The Allco Class Action was commenced in the Federal Court on the 8th of August 2013 against Allco Finance Group and KPMG. The action arose out of a claim that the respondents contravened the requirements of the Corporations Act 2001, or otherwise made misleading statements, leading to financial loss to persons who acquired shares in the period from 21 August 2007 to 10 February 2008.
Case Developments
Settlement reached
On 31 March 2017, the Federal Court of Australia approved the $40 million settlement of the Allco Class Action.
Settlement Distribution
Maurice Blackburn was appointed the Administrator of the Settlement Distribution Scheme (Scheme).
Settlement Distribution payments were made from December 2017 and the settlement has now concluded.
No further payments will be made to class members under the Scheme.
Please note that the settlement approval judgment and the SDS provided that, in order to participate in the settlement distribution, Unregistered Group Members must have registered their claim with Maurice Blackburn by noon on 31 March 2017. Registrations received after this time were not eligible to participate.
Australian leaders in class actions.
Our reputation for excellence in class actions is unparalleled, having recovered more than $5 billion for clients.
We are the only Australian class actions firm to deliver $100m+ settlements to clients in shareholder and listed securities actions, which we have done on ten occasions.
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Australian leaders in class actions.
Our reputation for excellence in class actions is unparalleled, having recovered more than $5 billion for clients.
We're the only Australian class actions firm to deliver $100m+ settlements in multiple shareholder and listed securities actions, which we have done on 11 occasions.
Lower cost to clients
Biggest recoveries
Most experienced
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