Downer EDI Group Proceeding (Class Action)

Four proceedings were brought on behalf of those who acquired shares in the defendant, Downer EDI Limited: A proceeding issued in this Court by Mr and Mrs Lidgett (S ECI 2023 01835) (‘Lidgett proceeding’), a proceeding issued in the Federal Court by Jowene Pty Ltd (ACN 001 714 585) atf Biro Citer Souvenirs Pty Limited Pension Fund (NSD 293 of 2023) (‘Jowene proceeding’), a second proceeding issued in the Federal Court by Mr Teoh and Mr Eckardt (NSD 427 of 2023) (‘Teoh proceeding’) and a third proceeding issued in the Federal Court by Kajula Pty Ltd (ACN 065 474 713) (NSD 520 of 2023) (‘Kajula proceeding’).  

The claims allege that, in the period from 23 July 2019 until a final corrective disclosure on 27 February 2023, Downer, a listed company, variously contravened provisions of the Corporations Act 2001 (Cth), the Australian Securities and Investments Commission Act 2001 (Cth) and the Australian Consumer Law being Schedule 2 to the Competition and Consumer Act 2010 (Cth).

Following applications by the applicants in each of the Federal Court proceedings, the Honourable Justice Halley made orders on 7 August 2023 transferring the Kajula proceeding, the Jowene proceeding and the Teoh proceeding to this Court. 

The proceedings were being managed together by the Honourable Justice Delany.

Following a hearing on 28 August 2023, his Honour made an order consolidating the Lidgett, Jowene and Teoh proceedings, with Mr and Mrs Lidgett remaining as plaintiffs on the record.  By that order, Maurice Blackburn will remain on the record as the solicitors for the consolidated proceeding, with William Roberts Lawyers to act as agent for Maurice Blackburn.

On 27 September 2023, his Honour handed down a ruling that the Kajula proceeding be permanently stayed.  The claims of shareholders against Downer will now be advanced only by the Lidgett plaintiffs in the consolidated proceeding.  There is no need for group members to take any action at this time.