When did Slater and Gordon issue proceedings?
Slater and Gordon, as instructed by the lead plaintiff, commenced a group proceeding (class action) against Star Entertainment Group Limited (SGR.AX) (Star) on 29 March 2022.
I am/was a Star shareholder, is this relevant to me?
Any person who purchased shares in Star at any point between 29 March 2016 to 16 March 2022 (inclusive) may have a claim against Star.
You are automatically a group member if you purchased shares in Star during the period 29 March 2016 to 16 March 2022 (inclusive).
If you do not wish to participate in the group proceeding, there will be an opportunity for you to opt out of the class action at a future time.
If you do wish to participate in the group proceeding and be entitled to receive compensation if the claim is successful, you will likely be required to formally register your claim at a future time.
You will receive further information about the opt out process and the registration process explaining these options, and any steps that you are required to take at a future date.
How do I express my interest?
To keep updated as the case progresses, register your interest through the form below. It does not and will not cost you anything.
Register your interest
If you purchased Star shares and would like to receive automatic email updates as the class action progresses, register your email below.
What are the allegations?
This group proceeding relates to allegations that Star made misleading representations and further, failed to comply with its continuous disclosure obligations as an ASX-listed company, breaching relevant provisions of the Corporations Act 2001 (Cth), the ASIC Act 2001 (Cth) and the Australian Consumer Law.
The group proceeding alleges that because of this conduct, the Plaintiff and group members paid more for shares in Star than would have been the case had the company complied with its obligations. Alternatively, the group proceeding alleges that some group members would not have purchased shares in Star had the alleged wrongdoing not occurred.
On what terms are Slater and Gordon acting in the class action?
Slater and Gordon is acting on the basis that the Plaintiff will seek a Group Costs Order, pursuant to which:
- Slater and Gordon’s legal costs would be calculated as a percentage of the amount of any damages award or settlement that may be recovered in the group proceeding;
- The relevant percentage would be approved by the Court before those costs were paid;
- The liability for that payment would be shared by the Plaintiff and all group members in the group proceeding;
- Slater and Gordon would be liable for any costs payable to the Defendant in the proceeding that the Court may order (and not the Plaintiff); and
- If an order is made by the Court that security for costs be provided to the Defendant, Slater and Gordon will provide this security (and not the Plaintiff).
In the event that the Court does not make a Group Costs Order (or a Group Costs Order is made but is subsequently vacated), Slater and Gordon is acting on the basis that the Plaintiff will instruct it to seek litigation funding from a litigation funder.
The percentage paid under a Group Costs Order is determined by the Court and the Court would have the power to adjust the percentage at any time over the course of the group proceeding, including following a successful outcome.
However, we confirm that irrespective of those terms, you will not be exposed to any out-of-pocket costs for Slater and Gordon to act on your behalf.
It does not — and will not — cost you anything to express your interest in this class action.
Frequently Asked Questions
You may register your interest if you purchased shares between 29 March 2016 to 16 March 2022 (inclusive).
If you are unsure about your eligibility, please contact our team at email@example.com. Please allow 48 hours for us to respond to your enquiry.
The claim has been issued on an “open class basis”. This means that individuals who purchased shares within the claim period are automatically included in the proceeding without the need to register their interest. In order to be entitled to receive any compensation obtained through the proceeding, individuals who meet this definition will likely be invited by the Court during the course of the proceedings to formally register their claims OR opt out of the class action.
The benefit or registering your interest means you will be automatically kept up to date as to the progress of the investigation and will not have to take any further steps to register your claim through the Court ordered registration process.
You will not be exposed to any out-of-pocket expenses, ever.
By registering your interest, you are asking Slater and Gordon to provide you with updated information in relation to the class action and assist you with any future Court-ordered registration process required to formally secure your claim for any compensation obtained in the proceeding.