FleetPartners Group (formerly Eclipx Group) Group Proceeding (Class Action)

This is a group proceeding (class action) brought against the defendant, FleetPartners Group Ltd, formerly ‘Eclipx Group Ltd’ (ECX), on behalf of persons who acquired shares in ECX between 8 November 2017 and 10:35am on 20 March 2019 (inclusive). 

It is alleged that ECX made misleading representations and failed to comply with its continuous disclosure obligations regarding information it provided (and/or failed to provide) to investors about its financial performance, future earnings guidance, and its systems and processes for recognising and forecasting revenue. The claim alleges that as a result of the alleged disclosure failures, the share price of ECX was inflated, causing the plaintiff and group members to suffer loss and damage. Alternatively, the claim alleges that some group members would not have purchased ECX shares had the alleged wrongdoing not occurred. 

IMPORTANT INFORMATION ABOUT REGISTRATION AND OPTING OUT

If you are, or you think that you may be a group member, you should read the documents below carefully. 

The Notice (a copy of which is below) contains important information about your rights to: 

(1) register your claim in the proceeding; or 
(2) opt out of the proceeding.

In summary, if you fall within the definition of a group member, you have three options:

• If you want to be eligible to receive compensation from any settlement that may be reached until the first day of trial, you must register your claim in accordance with the Notice by 4:00pm (AEDT) on 2 April 2025.
  To register, you must either:
  • complete the online registration form with Phi Finney McDonald; or
  • complete the registration form found at Schedule 1 of the Notice and submit by email or post to the address for Phi Finney McDonald stated on the form.
    For further information on how to register, please refer to Option 1 on page 6 of the Notice below.
     
• If you do not want your rights determined by the class action you must opt out by 4:00pm (AEDT) on 2 April 2025.
  To opt out, you must either:
  • complete the online opt out notice; or
  • complete the opt out notice found at Schedule 2 of the Notice and submit by email or post to the address for the Registry of the Supreme Court of Victoria stated on the form.
    For further information about opting out, please refer to Option 2 on page 7 of the Notice below.

• If you do nothing in response to this Notice you will remain a group member in the class action but if a settlement is reached at any point up until the first day of the initial trial, then subject to any further order of the Court, you will not be permitted to participate in that settlement, and your right to claim against the defendant in relation to the matters raised in the class action may be extinguished.

The definition of a "group member" is set out in the Notice.

Notice to Group Members - Registration and Opt Out
Orders of Waller J (16 December 2024) - Registration and Opt Out