In the world of opt-in litigations, Australia has historically been the most active market by volume, even surpassing Canada to be the most active market for any litigation type behind the U.S. Until recently, that large volume of activity did not result in many pursued actions moving to settlement. Since June 1, 2016, there have been four settlements in Australia, including: Gunns Limited (confidential settlement); Newcrest Mining ($25 million settlement); OZ Minerals ($24 million settlement); and Billabong ($34 million settlement). For claimants who were hesitant to invest time and resources to participate in Australian actions, these settlements may suggest the value of pursuing such claims.

Looking at 2017, there are 14 open litigations in Australia (Allco, WorleyParsons, Iluka, Slater & Gordon, MG Unit, QRxPharma, Bellamy’s, MacMahon, QBE, Treasury Wine, Vocation, Spotless Group, UGL, and Hastie Group). It is important for every investor in Australia to perform diligence on these actions and determine whether or not participating is appropriate. Securities Class Action Services has spent the last five years helping carry the significant burden of filing for Australian litigations, resulting in millions of recoveries with minimal involvement for clients.

To learn more about how we help our clients file in an easy and organized fashion in Australia and other opt-in jurisdictions, visit our website or contact us today.