Gunns class action
Maurice Blackburn shareholder action against Gunns Ltd
On 20 April 2011 Maurice Blackburn filed legal proceedings in the Federal Court of Australia in Sydney against listed Tasmanian woodchip company, Gunns Limited. The claim was lodged on behalf of over 300 shareholders and concerned Gunns' failure to disclose material information regarding a significant deterioration in its likely financial performance for the six month period ending 31 December 2009 (1H2010), prior to formally reporting those results on 22 February 2010. In September 2012 an administrator was appointed to Gunns and the proceeding was automatically stayed as a result.
In August 2015 Maurice Blackburn filed proceedings in the Federal Court of Australia against certain directors and officers of Gunns in relation to the same alleged failure of Gunns to disclose material information.
An opt-out notice in relation to the directors and officers proceeding is available here.
A Request for Recalculation form is available here.