Frequently Asked Questions
What is a class action?
What is a class action?
When Governments, large companies or institutions do the wrong thing and people are harmed or suffer loss as a result, an individual can have little to no means of bringing a legal claim.
Class actions are an important mechanism within Australia’s legal system that allow large groups of people to come together to pursue a claim collectively.
For a class action to take place, there are three criteria that need to be met:
there must be 7 or more people that have claims against the same defendant; and
the claims relate to the same or similar circumstances; and
the claim must relate to at least one common issue of law or fact.
For more information about how class actions resolve, click here.
How long do class actions take to resolve?
How long do class actions take to resolve?
It can take up to several years for a class action to resolve. The time taken from case commencement through to resolution and settlement administration depends on the particular case, and the nature of the claim.
For more information about class actions and how they work, click here.
Does it cost anything to join a class action?
Does it cost anything to join a class action?
Shine Lawyers is committed to ensuring that everyone, regardless of their background or financial situation, has access to justice. We run our class actions in a way that means you are not exposed to any out-of-pocket costs or financial risk.
When a class action is successful, the legal fees and costs to run the class action are deducted from the settlement amount that is approved by the Court. If the class action is unsuccessful, we will ensure there are no out-of-pocket costs to you.
Will my contact details be kept private?
Will my contact details be kept private?
Yes, your contact details will remain confidential.
Shine Lawyers will only use your personal information strictly for the purpose of any legal proceedings and in accordance with our Privacy Policy.
What stage is the proceeding at and when will I receive compensation?
What stage is the proceeding at and when will I receive compensation?
On 7 April 2026, an in-principle settlement between the parties was announced. A2 Milk has agreed to pay the sum of AUD $62 million to settle the a2MC class action (inclusive of claims for interest and costs). In reaching this settlement, a2 makes no admission of liability. The settlement is subject to Court approval.
At this stage, it is not possible to confirm when eligible group members will receive compensation. A number of steps need to occur first.
The Court must first consider whether to approve the proposed settlement at the Settlement Approval Hearing, which will be held on 24 November 2026. If the settlement is approved, payments will be made in accordance with a Court approved Settlement Distribution Scheme (SDS). For further detail, please see paragraphs 13 to 29 of the Notice.
How much compensation will I receive?
How much compensation will I receive?
At this stage, it is not possible to inform registered group members of the specific amount they may receive from the Settlement Sum. The final distribution will depend on several variables that are not yet known, including those set out in paragraphs 26 to 28 of the Notice.
If the settlement is approved, compensation will be distributed in accordance with a Court approved settlement distribution scheme. For further detail, please see paragraphs 25 to 29 of the Notice.
Do I need to do anything to receive compensation?
Do I need to do anything to receive compensation?
If you are a Registered Group Member, and wish to participate in the proposed settlement, you do not need to take any immediate steps in response to this notice. If the settlement is approved, you will be contacted with further information about the settlement distribution process and any actions you will be required to take. For further information, see paragraphs 37 to 38 of the Notice.
Can I still register or opt out?
Can I still register or opt out?
The deadline to register or opt out has now passed.
If you wish to seek permission from the Court to register to participate in the settlement, by 4pm (AEST) on 22 September 2026, you must send an email to a2milkclassaction@shine.com.au which:
identifies the basis on which you consider the Court should grant you permission to participate in the proposed settlement; and
attaches evidence in support (in the form of an affidavit or statutory declaration); and
attaches any written submissions of no more than two (2) pages.
It will be a matter for the Court whether any group members who seek permission to participate in the settlement (if approved) may do so.
For further details on the steps you need to take when seeking leave of Court to participate in the proposed settlement, see paragraphs 39 to 42 of the Notice.
How can I object to the proposed settlement?
How can I object to the proposed settlement?
If you wish to object to the proposed settlement, you must notify the Court by 4pm (AEST) on 22 September 2026 by submitting a completed Notice of Objection available on the Supreme Court of Victoria’s website https://www.supremecourt.vic.gov.au/areas/group-proceedings/a2-milk/objection. For further information on objections, see paragraphs 43 to 48 of the Notice.
Opt Out and Registration Notice
The court-ordered deadline to register or opt out of the class action was 4.00pm AEST on 3 October 2025. A copy of the Opt Out and Registration Notice can be found here.
Consolidation of Proceedings
On 2 June 2022, the Supreme Court of Victoria ordered that the class actions filed by Shine Lawyers and Slater and Gordon would be consolidated. This consolidation means that the single consolidated proceeding is now jointly led by both lead plaintiffs with Shine Lawyers and Slater and Gordon jointly named as solicitors on the record, working together to conduct the class action.
Group Costs Order Awarded
In December 2023, the Supreme Court of Victoria approved a Group Costs Order (GCO) at a rate of 24%. This means that the legal costs of the A2 Milk Class Action will be calculated as 24% of the amount of any settlement or judgment awarded in the case, unless varied by the Court at a later stage. By awarding the GCO, the Court recognised that the order was appropriate or necessary for justice to be done in the proceeding. A GCO means the legal costs of conducting the class action will be calculated as a percentage of the amount of any judgment or settlement that may be recovered in the proceeding, on the basis that Shine Lawyers and Slater and Gordon accept the risk of paying A2 Milk’s legal costs if the case is unsuccessful. Group Members will not be exposed to any out of pocket costs as a result of their participation in the class action.
What is the A2 Milk Class Action about?
The class action alleges that, between 19 August 2020 and 9 May 2021 (inclusive), A2 Milk engaged in misleading or deceptive conduct and breached its continuous disclosure obligations.
It is further alleged that by 19 August 2020, A2 Milk was, or ought to have been aware that their FY21 guidance, and subsequent representations, did not adequately take into account a number of factors known to A2 Milk which ultimately impacted the Company’s financial performance, resulting in a 62% drop in market value in FY21. These factors include:
The decline in daigou or reseller sales, which fell due to the impact of A2 Milk’s sales through its Cross Border e-Commerce Channel (CBEC). This saw A2 Milk heavily market English labelled infant products directly into the Chinese market with discounting that effectively undercut their sales in the daigou or reseller channel; and
The decline in the CBEC business due to the decline in daigou or reseller sales, as daigou sales often help stimulate demand for direct orders.
If you acquired A2 Milk shares in Australia (ASX; or Cboe Australia, formerly Chi-X Australia) or New Zealand (NZSX) between 19 August 2020 and 9 May 2021 (inclusive), or before 19 August 2020 and held your shares until after 28 September 2020, you may be eligible to join this class action.
Am I a group member?
It is likely you will be a group member if you:
Purchased Australian or New Zealand shares in The A2 Milk Company Limited on the ASX, NZSX, or Cboe Australia (formerly, Chi-X Australia) (ASX:A2M, CXA:A2M and NZX:ATM) during the period 19 August 2020 to 9 May 2021 (inclusive).
AND/OR
Purchased Australian or New Zealand shares in The A2 Milk Company Limited on the ASX, NZSX, or Cboe Australia (formerly, Chi-X Australia) (ASX:A2M, CXA:A2M and NZX:ATM) before 19 August 2020 and held them until at least after 28 September 2020.
Background to the A2 Milk Class Action
Shine Lawyers’ Class Actions Team commenced a class action against A2 Milk following reports of alleged misconduct in connection with multiple downgrades of the milk company’s expected revenue in FY21.
The following timeline highlights the series of events that led to the drop in market value:
Case Documents
Meet the A2 Milk Class Action team
Shine Lawyers’ A2 Milk Class Action team includes some of the firm’s most experienced litigators, solicitors and support staff. You can learn more about the team running this class action by clicking on their profile below.
Why choose Shine Lawyers?
In successful settlements and judgments
We have secured more than $1 billion in class action settlements and judgments for our group members.
years of collective experience
Our team includes the country’s most experienced class actions experts and litigators with the skill, industry insight and dedication to deliver the best possible outcomes for deserving Australians.
dedicated class actions team members
We are proudly one of the largest class actions teams in the country. Our senior practitioners are supported by a dedicated team devoted to the complex field of class actions.
