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, 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.
Potential Class Members

Registration is open to Woolworths shareholders who purchased WOW shares between 29 August 2014 to 6 May 2015.

Capacity to Join

Open.

Current Status

Case Management Hearing listed for 2 August 2019 be adjourned to 9.30am on 23 August 2019.