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.