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.
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.
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.
Log in to Macquarie Online Banking or the Macquarie Mobile Banking app and chat with a consultant in real time, Monday to Friday, 9am to 5pm Sydney time (excluding public holidays).
Please get in touch as soon as possible so we can work together to find the right solution for you.
Everyone at Macquarie is committed to providing our clients with the highest standard of products and services available. If you have feedback we would like you to tell us about it.
