ASX Shareholder Claims

Registry

Victoria Registry, Federal Court of Australia (VID1131/2018).

Date of Filing

10 September 2018.

File Title

Norman Leslie Wills And Jane Anne Danaher (As Trustees For The Minty Tin Superannuation Fund) v Woolworths Group Ltd (Formerly Woolworths Ltd).

Presiding Judge

Justice Beach.

Solicitors for Applicant

Maurice Blackburn Lawyers.

Solicitors for Respondent

King & Wood Mallesons.

Funder

International Litigation Funding Partners, after IMF Bentham Limited withdrew from funding the case in January 2018, saying the class action no longer met its investment criteria.

Claim Overview
  • 29 August 2014: Woolworths provides guidance that FY15 NPAT expected to increase between 4% and 7%.
  • 27 February 2015: Woolworths announced it was downgrading its FY15 NPAT guidance to “the lower end of the current analyst NPAT growth forecast range for FY15 of 1.8 – 6.6%” and that  price investment (reducing prices) of $500m would be implemented and funded by a costs savings offset.
  • 27 February – 2 March 2015: Woolworths’ share price declined $4.66 or 13.7% over two trading days.
  • 6 – 7 May 2015: Woolworths’ share price declined ~5% on 6 May 2015 and a further 2% on 7 May 2015.
Class Members

Woolworths shareholders who purchased WOW shares between 29 August 2014 to 5 May 2015 (inclusive).

Capacity to Join

Open.