This class action is closed to new group members.
As of Friday 18 August 2017, registration for the class action against Bellamy’s Australia (ASX:BAL) is closed. The following information is an overview of the claim.
Background and Nature of Claim
It is alleged that on and from 14 April 2016, BAL knew or ought to have known that market consensus concerning forecasts for its FY17 revenue and EBIT margin were materially inconsistent with information known to BAL and relevant to its revenue and EBIT margin outlook. BAL failed to disclose this information until 2 December 2016 and 11 January 2017, respectively. When the market became aware of this information, BAL’s shares dropped $5.57 per share and $2.67 per share, respectively.
Potential Class Members
Parties who purchased shares in Bellamy’s on or after:
- 14 April 2016 and who held some or all of those shares until 1 December 2016 (the “First Period”); or
- 2 December 2016 and who held some or all of those shares until 9 December 2016 (the “Second Period”).
Shares Traded in the Period
119.83 million in the First Period and 41.56 million in the Second Period.
Price Drop on Disclosure
- $5.57 per share (Market cap drop of $534.5m) after the First Period; and
- $2.67 per share (Market cap drop of $259.7m) after the Second Period.
Stay Application (18 August 2017).