Group proceeding (class action) brought on behalf of persons who acquired shares in G8 Education Limited (G8) during the period between 23 May 2017 and 23 February 2018 (inclusive).
The claim alleges that the defendant made misleading or deceptive statements in earnings forecasts for the calendar year 2017 on 23 May 2017 and in its half year report announced on 21 August 2017. It is alleged that these announcements failed to disclose market pressures on the defendant’s childcare centres’ occupancy rates and increased salary costs due to a change in the regulations prescribing a ratio of educators to children. The alleged non-disclosures are also claimed to be breaches of continuous disclosure obligations.
It is alleged that the conduct of the defendants resulted in G8’s shares trading at an inflated price on the Australian Securities Exchange, causing loss to those who bought them at that inflated price.
The deadline for opting out is 4pm on Friday 20 August 2021. Please see below for important opt-out information.
The deadline for opting-out of this proceeding is 4pm on Friday 20 August 2021.
If you fall within the definition of a group member as set out in the Notice (a copy of which is below), you will remain a group member unless you take steps to opt-out by 4:00pm on Friday 20 August 2021. The Notice contains important information about your rights to opt-out of the proceeding.
If you are a group member, or think that you may be a group member, you should read the documents below carefully.
Summons for Group Costs Order filed on 20 May 2021 in the G8 Education Shareholder Group Proceeding (Class Action)
Amended writ and statement of claim filed on 26 February 2021 in the G8 Education Shareholder Group Proceeding (Class Action).
Group proceeding summary statement in the G8 Education Shareholder Group Proceeding (Class Action).