Class Action – Mesoblast Limited (ASX:MSB)
Class action proceedings currently on foot against Mesoblast Limited in the Federal Court of Australia seek compensation for investors who acquired and held interests in ASX-listed Mesoblast shares between 22 February 2018 and 17 December 2020 inclusive.
The action is being jointly conducted by law firms William Roberts Lawyers and Phi Finney McDonald.
ICP Funding Pty Ltd is co-funding the costs of the action with Omni Bridgeway.
Claim Overview
The Class Action alleges that during the Relevant Period, Mesoblast engaged in unlawful conduct that misled the market about one of the company’s developmental stem cell therapies, ‘Remestemcel-L’, and the potential applications of that therapy as a treatment for acute-graft-versus-host-disease (aGVHD), and also acute respiratory distress syndrome (ARDS) caused by COVID-19.
Group Members
You may be a Group Member in the class action if during the period from 22 February 2018 until the close of trading on 17 December 2020 inclusive you acquired:
i) an interest in fully paid ordinary shares in Mesoblast listed as “MSB” on the Australian Securities Exchange;
ii) an interest in American Depository Receipts traded on the NASDAQ exchange under the symbol “MESO”;
iii) an interest in securities traded over the counter in the United States with the symbol “MEOBF”; and/or
iv) long exposure to MSB Shares by entering into equity swap confirmations in respect of MSB Share.
Current stage of case
An Opt Out and Registration process took place between 1 March and 19 April 2024.
A mediation is due to take place on 5 June 2024.