|Claim Period:||02 May 2012 to 18 September 2012|
|Shares traded in Period (m):||245|
|Price change on disclosure:||-$0.21|
|Market Cap Drop ($m):||152|
NSW Registry, Federal Court of Australia (NSD1346/2015).
David Scott Hopkins v Macmahon Holdings Ltd (NSD 1346/2015).
Date of Filing
5 November 2015.
Solicitors for Applicant
Solicitors for Respondent
Herbert Smith Freehills.
Harbour Fund II, L.P.
The claim alleged that Macmahon:
- made misleading representations as to its financial performance in the financial year ending on 30 June 2013, both in May 2012 and in August 2012; and
- made misleading representations as to the processes by which it selected projects for which to tender and that it failed to disclose a key risk in relation to the project known as ‘Hope Downs 4 – Rail Earthworks and Bridge Construction’ which it should have known would have a material adverse effect on its financial performance for the financial year ending on 30 June 2013
- acquired shares in Macmahon during the period 10 April 2012 to 18 September 2012 (Relevant Period);
- suffered loss and damage as a result of the conduct of Macmahon; and
- is not a related party, related body corporate, associated entity, or an officer or a close associate of Macmahon
Capacity to Join
Justice Jagot has signed off on a $6.7million settlement in a shareholder class action against mining firm MacMahon Holdings that will see group members get $2.4 million, or 35 percent of the total sum. ACA lawyers, a capped $3 million for its legal costs and disbursements and funder Harbour Litigation Funding a commission of $1.295 million.