A class action can be summarised as litigation taken by a group of people based on the same or similar loss suffered because of other people’s actions.
Typically, shareholders may seek to sue a company where the directors have misled the market as to the true value of the share price, leading them to overpay for their shares.
These are the most common class actions seen on the Macquarie Wrap platform.
What a class action means for you
In some instances, a law firm will arrange for a group of impacted shareholders to participate in a class action and may offer a “no win, no fee” service.
Participating shareholders will receive the compensation proceeds after the deduction of lawyer’s fees and other expenses such as that of the litigation financier.
As sometimes there can be a long period of time between the start and end of a class action, we’ll send you an email to let you know if you’re entitled to proceeds from a successful class action.
Who to contact about a class action
If you have any questions about the class action or settlement, we recommend contacting the litigator via email or phone.
You can find details of the litigator and the class action in the notification we send you to let you know you’re entitled to proceeds from a class action.