The Vocation Limited Class Action, is brought on behalf of the Applicant, Ms Cheryl Whittenbury, on her own behalf and on behalf of all persons who acquired shares in former education and training provider Vocation Limited (“Vocation”) between 27 November 2013 and 4 December 2014.
The Applicant alleges that, among other things, Vocation (the “First Respondent”) made misleading or deceptive statements in its prospectus, omitted information that was required to be disclosed in its prospectus, contravened the continuous disclosure requirements of the Corporations Act 2001 (Cth), and/or otherwise made statements that were misleading or deceptive. The Applicant further alleges that PricewaterhouseCoopers (the “Second Respondent”) is liable to class members for loss caused by making certain statements while it was retained to carry out an audit of Vocation’s FY2014 financial report.
The class action is funded by IMF Bentham Limited.
On 7 December 2018, the Federal Court of Australia made orders requiring class members to take steps in relation to their participation in the class action by 4 March 2019.
A copy of the Court’s orders and the Court-approved Notice to Group Members are available from the following links:
Are you a class member?
You are a class member if you:
(a) Acquired an interest in fully paid ordinary shares in Vocation Limited during the period between 27 November 2013 and 4 December 2014 (inclusive);
(b) Suffered loss or damage by reason of the conduct of the Respondents, as alleged in the Amended Consolidated Statement of Claim;
(c) Are not any of the following:
(i) A related party of Vocation Limited;
(ii) A related body corporate of Vocation Limited;
(iii) An associated entity of Vocation Limited;
(iv) A director, an officer or a close associate of Vocation Limited;
(v) John William Cruse Webster (as Trustee for the Elcar Pty Ltd Super Fund Trust) being the Plaintiff in proceedings VID 228/2017 against Vocation in the Federal Court of Australia.
If you believe you are a class member, it is very important that you read the further information available at www.vocationclassaction.com.au and take any necessary steps by 4 March 2019.