On 1 December 2016, William Roberts Lawyers instituted an investor class action in the Federal Court of Australia against Ashley Services Group Limited (ACN: 094 747 510) (“Ashley”), on behalf of current and former shareholders backed by litigation funder, IMF Bentham Limited.
The claim arises out of allegedly misleading statements and material omissions made in Ashley’s prospectuses issued prior to its listing, and allegedly misleading conduct and failures to comply with continuous disclosure obligations by Ashley which occurred after its listing. Such conduct is alleged to have caused loss and damage to Ashley shareholders who acquired Ashley shares pursuant to Ashley’s prospectus dated 7 August 2014 or in the period from 21 August 2014 to 26 April 2015.
Update 18 January 2018: On 13 December 2017, the Court made orders for a mediation to occur by no later than 13 July 2018 and for an important notice to be given to group members in relation to the participation in any settlement arising out of the mediation. A copy of the Court approved notice can be found via the link on our Class Actions webpage here, or alternatively obtained via IMF Bentham Limited’s Ashley Class Action webpage here.
The case is managed by a team at William Roberts led by principal, Bill Petrovski.
