Current Status

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.

Registry

Federal Court of Australia, Victoria Registry (VID1010/2018).

Date of Filing

16 August 2018.

File Title

ENDEAVOUR RIVER PTY LTD v MG RESPONSIBLE ENTITY LIMITED & ANOR.

Presiding Judge

Justice Beach.

Solicitors for Applicant

Slater & Gordon.

Solicitors for Respondents

Herbert Smith Freehills.

Funder

IMF Bentham.

Claim Overview

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.

Class Members

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.