Web Travel Class Action

Background

On 29 July 2026, Slater and Gordon, on the instructions of the lead plaintiff, filed a shareholder class action in the Supreme Court of Victoria against Web Travel Group Ltd (ASX:WEB) (Web Travel).

The class action is brought on behalf of investors who it is alleged suffered financial loss after buying Web Travel shares between 21 March 2024 and 13 October 2024 (inclusive).

The claim concerns Web Travel’s FY25 earnings guidance and the class action alleges that Web Travel:

• engaged in misleading or deceptive conduct; and

• failed to comply with its continuous disclosure obligations,

in breach of relevant provisions of the Australian Consumer Law, the Corporations Act 2001 (Cth) and the ASIC Act 2001 (Cth) and causing financial loss to shareholders.

If you purchased shares in Web Travel at any point between 21 March 2024 and 13 October 2024 (inclusive), you may be a group member in this class action and can register your interest via the above link.

What is the claim about?

At its strategy day on 21 March 2024, Web Travel told the market via an announcement to the ASX that:

• it would grow its Total Transaction Value (TTV) from approximately $4 billion in FY24 to $5 billion in FY25, and ultimately to $10 billion in FY30; and

• the margin it earned on its TTV (its TTV margin) would ‘settle in the short term at c.mid–7%’.

Following this announcement, Web Travel’s share price increased by approximately 9.2%.

On 14 October 2024, Web Travel issued a trading update to the ASX in which it announced that:

• its TTV Margin for 1H25 was ‘expected to be c.6.4%’; and

• due to ‘changing geographic and business mix’, its TTV Margin was now ‘expected to stabilise at c.6.5%’.

Following this announcement, Web Travel’s share price declined by more than 35%.

The class action alleges that Web Travel engaged in misleading or deceptive conduct and/or breached its obligations of continuous disclosure between 21 March 2024 and 13 October 2024 (inclusive), in contravention of relevant sections of the ASIC Act 2021 (Cth), Australian Consumer Law, Corporations Act 2001 (Cth) and the ASX Listing Rules, by:

• representing that it would achieve a TTV margin that would settle in the short term at  ‘c.mid-7%’; and

• failing to disclose it could not reasonably achieve that TTV margin while pursuing its growth strategy.

The class action further alleges that investors who purchased Web Travel shares between 21 March 2024 and 13 October 2024 (inclusive) suffered loss or damage, because had Web Travel complied with its legal obligations, those investors would not have purchased Web Travel shares at the prices and in the volumes they did, or in some cases, would not have purchased the shares at all.

Group Members

You may be a group member in this class action if you acquired shares in Web Travel Group Ltd (ASX:WEB) between 21 March 2024 and 13 October 2024 (inclusive).

Please note that prior to 19 September 2024, Web Travel Group Ltd was known as Webjet Ltd. If you purchased shares before 19 September 2024, the name of the entity listed on trading confirmations may be Webjet Ltd, although the ASX code will still be listed as WEB. Those shares – that is, WEB shares – are relevant for the Web Travel Class Action.

On 20 September 2024, Webjet Ltd commenced trade on the ASX as a separate company (ASX: WJL). Purchases of shares in WJL are not relevant to the class action, and if you only purchased WJL shares, you are not a group member in this class action.

If you would like to participate and be updated on the progress of the class action please register your interest using the below form.

The form will ask you to provide:

• details of the date, volume and price of all acquisitions (purchases) and disposals (sales) of Web Travel shares between 21 March 2024 and 13 October 2024 (inclusive);

• the number of shares you already held at the start of trade on 21 March 2024; and

• documentary evidence of those transactions.

Please send us an email at webtravel@slatergordon.com.au if you have any questions.

There will never be any out of pocket costs associated with your participation in the class action.

Funding and legal costs

Slater and Gordon is acting on the basis that the lead 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 Group Costs Order and relevant percentage would be subject to approval by the Court before those costs were paid;

• the liability for that payment would be shared by the lead 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

• if an order is made by the Court that security for costs be provided to the defendant, Slater and Gordon will provide this security.

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.

Under no circumstances will group members face any out-of-pocket costs in relation to the class action, whether the case is successful or not.

Key Documents

Group Proceeding Summary Statement 

Funding Information Summary Statement