Settlement Amount Not Disclosed
The claims against Arup Pty Ltd arose out of the purchase of Stapled Units in the Initial Public Offering of Brisconnections Management Company Ltd (‘Brisconnections’) in July 2008 pursuant to the Product Disclosure Statement issued by Brisconnections. Arup prepared the traffic forecasts for the Brisbane Airport Link toll road. The claims alleged that Arup had no reasonable basis for the high daily traffic forecasts it permitted to be included in the PDS.
Accordingly the claim alleged misleading and deceptive conduct.
Federal Court of Australia.
Status of Claim
Bulense Holdings Pty Ltd.
Brisconnections Management Company Ltd.
Proceedings commenced in July 2014 and settled in 2015.
Settlement Approval (20 July 2015).