Claims

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

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.

Funder

IMF Bentham Ltd.

Overview of Claim

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 the 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.

Potential 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 time for filing any cross-claims is by 26 October 2018.