|Claim Period:||18 August 2016 to 17 February 2017|
|Shares traded in Period (m):||490|
|Price change on disclosure:||-$1.04|
|Market Cap Drop ($m):||1,652|
Victoria Registry, Federal Court of Australia (VID972/2018).
Date of Filing
8 August 2018.
Holly Southernwood V Brambles Limited.
Solicitors for Applicant
Slater and Gordon.
Solicitors for Respondent
On 18 August 2016, Brambles released its FY16 results, providing guidance for FY17 of profit growth between 9% to 11%, as well as sales growth projections of 7% to 9%.
The downgrade announcements surprised the market, with the Brambles share price falling by 15.8% following its first downgrade announcement in January 2017, and by a further 10% in the wake of the second downgrade announcement in February 2017.
The proposed claim is open to all current and former Brambles shareholders who acquired BXB shares at any time between 18 August 2016 and 17 February 2017.
Capacity to Join
- On 26 October 2018, the first case management hearings in this proceeding and the related class action filed against Brambles by Maurice Blackburn were heard together in the Federal Court of Australia before the Honourable Justice Murphy.
- The matter is listed for a further hearing on 27 February 2019.