If you suffered loss from investing in Spotless shares, you may have a claim. Register with ICP to obtain detailed information additional to the summary below.
Victoria Registry, Federal Court of Australia (VID561/2017).
Date of Filing
25 May 2017.
Alison Court v Spotless Group Holdings Limited.
Solicitors for Applicant
Slater & Gordon.
Solicitors for Respondent
Herbert Smith Freehills.
ICP Capital and Therium.
On 25 August 2015 (reconfirmed on 22 October 2015) Spotless announced that “Subject to economics conditions, we expect the FY16 results (EBITDA and NPAT) to materially exceed FY15 results.”
FY15 statutory EBITDA and NPAT was $316.4m and $142.8m, respectively.
On 2 December 2015, Spotless disclosed EBITDA would be flat year on year and NPAT approximately 10% below FY15.
Nature of Claim
That Spotless had no reasonable basis for its 25 August and 22 October guidance.
Potential Class Members
Parties who purchased shares in Spotless on or after 25 August 2015 and who held some or all of those shares until 2 December 2015 (the “Period”).
Shares Traded in the Period
Price Drop on Disclosure
$0.88 per share (Market cap drop of $961m).
- The Respondent provides Tranche 1 of discovery by 25 January 2018.
- Case Management Hearing listed for 8 February 2018 at 9:30am.
Capacity to Join
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