Claims

ASX Code: BXB
ISIN: AU000000BXB1
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
Registry

Victoria Registry, Federal Court of Australia (VID972/2018).

Date of Filing

8 August 2018.

File Title

Holly Southernwood V Brambles Limited.

Presiding Judge

Justice Murphy.

Solicitors for Applicant

Slater and Gordon.

Solicitors for Respondent

Allens.

Funder

IMF Bentham.

Claim Overview

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.

Class Members

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

Open.

Current Status
  • 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.