Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Dorajay Pty Ltd v Aristocrat Leisure Limited [2008] FCA 1311
PRACTICE & PROCEDURE – representative proceeding under Part IVA of the Federal Court of Australia Act 1976 (Cth) – proposal to settle proceeding – Court order that group members provide proof of their share trading by 24 June 2008 in order to participate in settlement – failure of some members to meet deadline of 24 June 2008 – whether such failure should lead to exclusion
DORAJAY PTY LTD v ARISTOCRAT LEISURE LIMITED
NSD 362 of 2004
STONE J
26 AUGUST 2008
SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NSD 362 of 2004
BETWEEN: DORAJAY PTY LTD
Applicant
AND: ARISTOCRAT LEISURE LIMITED
Respondent
JUDGE: STONE J
DATE OF ORDER: 26 AUGUST 2008
WHERE MADE: SYDNEY
THE COURT ORDERS THAT:
1. The persons listed in Schedule 1 to these orders not be excluded from the proposed settlement of this proceeding because of their failure to complete and deliver a Proof in accordance with Order 4 made in this proceeding on 21 May 2008. 2. The persons listed in Schedule 2 to these orders be excluded from the proposed settlement of this proceeding because of their failure to complete and deliver a Proof in accordance with Order 4 made in this proceeding on 21 May 2008. 3. The parties have leave to apply for a variation of these orders by 12 September 2008. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NSD 362 of 2004
BETWEEN: DORAJAY PTY LTD
Applicant
AND: ARISTOCRAT LEISURE LIMITED
Respondent
JUDGE: STONE J
DATE: 26 AUGUST 2008
PLACE: SYDNEY
REASONS FOR JUDGMENT 1 The applicant commenced proceedings in this Court as the representative of a group of investors (group members) who acquired shares in the respondent between 19 February 2002 and 26 May 2003 and who claim to have suffered loss and damage as a result of the respondent's conduct. The applicant claims that Aristocrat's conduct was in breach of its obligation of continuous disclosure imposed by the ASX rules and by s 674 of the Corporations Act 2001 (Cth)or a breach of its obligation not to engage in misleading and deceptive conduct imposed either by s 52 of the Trade Practices Act 1974 (Cth) or the equivalent provisions of the Corporations Act or the Australian Securities and Investments Commission Act 1981 (Cth). 2 The solicitors, Maurice Blackburn, act for a number of group members, including the applicant, in relation to 556 shareholdings. All of the group members for whom Maurice Blackburn act have entered into litigation funding agreements with IMF (Australia) Ltd. These members are known as the "Funded Group Members". There is, however, an unknown number of group members who have not entered into litigation funding agreements with IMF and who have not retained Maurice Blackburn to act on their behalf. These group members are known as the "Other Group Members".
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