To obtain copies of the following documents, please click on the below links:
- Further Amended Statement of Claim
- Amended Originating Application
- Federal Court of Australia judgment delivered on 18 August 2017
- Orders made by the Federal Court of Australia on 8 December 2017
If you have any questions about the information you need to give to ICP regarding your dealings in Bellamy’s shares, please contact ICP as soon as possible on 1800 26 26 00 or by email to BellamyTradeData@icp.net.au.
This class action is closed to new group members.
As of 13 September 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.
Parties who purchased shares in Bellamy’s in the period from 14 April 2016 to immediately prior to the commencement of a trading halt in Bellamy’s Securities on 12 December 2016 (inclusive) and who have signed a funding agreement with ICP on or before 13 September 2017.
Shares Traded in the Period
119.83 million between 14 April 2016 and 1 December 2016 and 41.56 million between 2 December 2016 and the commencement of the trading halt on 12 December 2016.
Price Drop on Disclosure
- $5.57 per share (Market cap drop of $534.5m) between 14 April 2016 and 1 December 2016; and
- $2.67 per share (Market cap drop of $259.7m) between 2 December 2016 and the commencement of the trading halt on 12 December 2016.
Additional Class Action
The Basil claim is proceeding concurrently with McKay Super Solutions Pty Ltd v Bellamy’s Australia Limited filed on 23 February 2017 by Slater & Gordon and funded by IMF.