This class action is no longer proceeding.
On 7 February 2022, Justice Jagot delivered her judgment in the class action against Iluka Resources Limited, and ruled in Iluka’s favour. After carefully reviewing and considering the judgment, Shine Lawyers have made the decision not to file an appeal.
Please note that group members have no liability for costs, and do not need to take any further action. Please contact 1800 325 172 if you have any queries regarding this class action.
What was the Iluka Class Action about?
This class action was brought on behalf of investors who suffered losses as a result of Iluka’s alleged failure to inform shareholders of its inability to achieve sales forecasts, and provide reliable forecasts for the 2012 calendar year.
The class action sought compensation on behalf of investors who invested in Iluka (ASX: ILU) and suffered loss as a result of alleged failure to:
- Inform shareholders of its inability to achieve sales forecasts, and
- Provide reliable forecasts for the 2012 calendar year.
The class action alleged that in the period from 12 April 2012 to 9 July 2012, Iluka ought to have been aware that it would not achieve its zircon and titanium dioxide sales forecasts for 2012. It was further alleged that this information, had it been made public, would have had a material effect on the price for Iluka shares.
The class action also alleged that, in the period from 12 April 2012 to 9 July 2012, Iluka mislead shareholders as to forecast zircon and titanium dioxide sales for 2012.
Shine Lawyers' Iluka Class Action Team
The Iluka Class Action Team includes some of the firm’s most experienced solicitors and support staff. The team includes:
