A settlement was reached in June 2019, on 5 July 2019, Justice Murphy appointed Elizabeth Harris of Innovim Group to serve as costs referee in the Slater & Gordon class action.
The referee’s report is due by 30 September.
Objections to the settlement are due by 4 October.
Federal Court of Australia, Victoria Registry (VID1010/2018).
Date of Filing
16 August 2018.
ENDEAVOUR RIVER PTY LTD v MG RESPONSIBLE ENTITY LIMITED & ANOR.
Solicitors for Applicant
Slater & Gordon.
Solicitors for Respondents
Herbert Smith Freehills.
The claim alleged that Murray Goulburn Co-Operative Co. Limited (MG) and its subsidiary, MG Responsible Entity Limited (MGRE), which issued the units in the MG Unit Trust, were responsible for misleading statements and/or omissions in a Product Disclosure Statement (PDS) issued by MGRE on 29 May 2015 and that the MG and MGRE were responsible for MGRE breaching its continuous disclosure obligations under the Corporations Act 2001 (Cth) during the Claim Period.
Shareholders who acquired MG units between 29 May 2015 and 26 April 2016 (inclusive).
Capacity to Join
Slater and Gordon filed the claim on a ‘closed class basis’. The class action was brought only on behalf of eligible unitholders who entered into a litigation funding agreement with IMF prior to 26 October 2018.