ISIN: AU000000HST0
Claim Period: 14 June 2011 to 21 February 2012 (inclusive)
Shares traded in Period (m): 355

Victoria Registry, Federal Court of Australia (VID632/2017).

Date of Filing

9 June 2017.

File Title

Sadie Ville Pty Ltd (As Trustee For Sadie Ville Superannuation Fund) v Deloitte Touche Tohmatsu (A Firm) & Anor.

Presiding Judge

Justice Moshinsky.

Solicitors for Applicant

Phi Finney McDonald.

Solicitors for Respondent

Clifford Chance.


IMF Bentham Ltd.

Claim Overview

On 17 June 2011, Hastie Group Limited (Hastie) lodged a prospectus with the ASX which gave details about the opportunity to invest in a $160 million capital raising (Prospectus).

The proceedings allege that Deloitte entities contravened sections of the Corporations Act, the ASIC Act, and the Australian Consumer Law in giving certain assurances contained in the Prospectus and other documents. The assurances given by the Deloitte entities related to the reliability and accuracy of Hastie’s financial statements and earnings forecasts.

Class Members

Shareholders who acquired an interest in shares in Hastie in the period from 14 June 2011 to 21 February 2012 (inclusive) and who entered into a litigation funding agreement with IMF Bentham Limited in relation to the proceedings on or before 9 June 2017.

Capacity to Join

This class action is ‘closed’, only persons who entered into a funding agreement with IMF Bentham Limited by 9 June 2017 are able to participate.

Current Status

The filing of cross-claims is further extended to 4pm on 30 August 2019.