Group proceeding brought on behalf of certain persons who purchased shares in the defendant (Beach Energy). The lead plaintiffs are Edward John Nelson and Gail Christine Nelson.
The case is brought on behalf of those persons who acquired an interest in fully paid ordinary shares, or American Depository Receipts (ADR), in Beach Energy between 17 August 2020 and 29 April 2021 (inclusive) and in each case suffered loss or damage when Beach Energy downgraded its estimates of oil and gas assets in its Western Flank oil field on 30 April 2021, resulting in a fall in Beach Energy’s share price.
This group proceeding was previously managed together with a class action proceeding commenced by Mark Richard Sanders (S ECI 2022 00256). The Honourable Justice Nichols held a hearing to determine which of the Nelson Proceeding or Sanders Proceeding would continue, and also heard group costs order applications by the plaintiffs in both proceedings on 19 May 2022. On 11 August, her Honour made orders permanently staying the Sanders Proceeding (with the Nelson Proceeding to continue) and made a group costs order in the Nelson Proceeding.
Shareholders in Beach Energy were covered by both proceedings, and their claims will now be advanced only in the Nelson proceeding. There is no need for group members to take any action.
Reply filed on 14 July 2023 in the Nelson Proceeding (S ECI 2021 04440) of the Beach Energy Group Proceeding (Class Action)
Defence filed on 30 June 2023 in the Nelson Proceeding (S ECI 2021 04440) of the Beach Energy Group Proceeding (Class Action)
Amended Statement of Claim filed on 12 August 2022 in the Nelson Proceeding (S ECI 2021 04440) of the Beach Energy Group Proceeding (Class Action)
Order made by the Honourable Justice Nichols on 11 August 2022 permanently staying the Sanders Proceeding (S ECI 2022 00256) of the Beach Energy Group Proceedings (Class Actions)
Group Costs Order made by the Honourable Justice Nichols on 11 August 2022 in the Nelson Proceeding (S ECI 2021 04440) of the Beach Energy Group Proceedings (Class Actions)
Group Costs Order and Carriage Ruling of the Honourable Justice Nichols dated 1 August 2022 ([2022] VSC 424) in the Beach Energy Group Proceedings
Group Proceeding Summary Statement (Updated) filed on 20 April 2022 in the Sanders Proceeding (S ECI 2022 00256) of the Beach Energy Group Proceedings (Class Actions)
Statement of Claim filed on 11 February 2022 in the Sanders Proceeding (S ECI 2022 00256) of the Beach Energy Group Proceedings (Class Actions)
Funding Information Summary Statement filed on 25 November 2021 in the Nelson Proceeding (S ECI 2021 04440) of the Beach Energy Group Proceedings (Class Actions)
Group Proceeding Summary Statement filed on 25 November 2021 in the Nelson Proceeding (S ECI 2021 04440) of the Beach Energy Group Proceedings (Class Actions)