|Claim Period:||27 August 2014 to 9 November 2015 (nclusive)|
Other BHP tickers/identifiers:
- LSE ISIN – GB0000566504
- SEDOL – 6144690, 0144403, 0056650, 6016777
- CUSIP – 614469005, AA6144692, G10877101, 00BH0P3Z9
- Mellon Security ID – EX0056658
Victoria Registry, Federal Court of Australia ( VID1077/2018).
KLEMWEB NOMINEES PTY LTD (AS TRUSTEE FOR THE KLEMWEB SUPERANNUATION FUND) v BHP BILLITON LIMITED.
Date of Filing
31 August 2018.
Solicitors for Applicant
Solicitors for Respondent
Herbert Smith Freehills.
No litigation funder — Maurice Blackburn has sought approval of a common fund order including a Litigation Services Fee of not more than 15% for all amounts recovered up to and including $150 million and not more than 10% for any amounts recovered in excess of $150 million.
(Or if the Litigation Services Fee is not approved, a common fund order providing for payment of Maurice Blackburn’s costs under its retainer.)
On 5 November 2015, the Fundão tailings dam at the Germano mine collapsed and released a mudflow that killed 19 people and caused catastrophic damage to downstream communities and the environment.
The dam collapse is considered the largest environmental disaster to have ever occurred in Brazil and the biggest rupture of a tailings dam recorded in the world. It released approximately 50 million tonnes of mining waste which travelled some 600 kilometres to the Atlantic Ocean, causing extensive damage as it went.
The claim against one of the largest listed companies on the Australian Stock Exchange relates to the devastating Fundão Dam collapse on 5 November 2015 in Brazil, which released a mudflow that killed 19 people and caused catastrophic damage to downstream communities and the environment. The class action is expected to allege BHP failed to comply with its continuous disclosure obligations by failing to adequately inform the market of the risks and consequences of failure of the dam, which had been beset with problems for years, and engaged in misleading and deceptive conduct.
Following the dam collapse, BHP’s share price plunged about 20 per cent between 6 November 2015 and 30 November 2015.
Maurice Blackburn has filed a class action against BHP Billiton Limited (BHP) on behalf of investors who acquired an interest in ordinary shares in BHP Billiton Limited on the Australian Stock Exchange, BHP Billiton plc on the London Stock Exchange, and/or BHP Billiton plc on the Johannesburg Stock Exchange during the period between 27 August 2014 and 9 November 2015 (inclusive).
Capacity to Join
Awaiting judgment following a Court hearing on 29 October 2018 at which the issue of consolidation or selection of the filed proceedings was considered.