Allco shareholder class action
The Allco Class Action was commenced in the Federal Court on the 8th of August 2013 against Allco Finance Group and KPMG. This action arises 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 27 February 2008.
The parties to the Allco Class Action have agreed on terms for the settlement of the proceeding which cannot be concluded until the Court approves the settlement. Under the terms of the proposed settlement the respondents are to pay:
- $30 million to settle the claims of Registered Group Members; and
- a further amount of up to $10 million to settle the claims of any other Unregistered Group Members. This amount will depend on the number of Unregistered Group Members who, prior to the applicable deadline, register their claims and provide share trading information to Maurice Blackburn, and the number of shares which those persons acquired and sold in the Relevant Period.
How to Register
If you purchased shares in Allco between 21 August 2007 and 27 February 2008, you may be able to recover losses suffered as a result of the conduct of the respondents.
To register your claim in the Allco class action, please contact a member of the Allco class action team at email@example.com or on (03) 8102 2007. Registration is free and without obligation.
- Call us on (03) 8102 2007