Crown Resorts Shareholder Group Proceeding (Class Action)

Group proceeding (class action) brought on behalf of persons who acquired or held shares in Crown Resorts Limited (Crown Resorts) during the period between 11 December 2014 and 18 October 2020 (inclusive).

The claim alleges that the defendant made misleading or deceptive statements relating to its compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and associated instruments (AML/CTF Laws). It is alleged that Crown made misleading representations during the relevant period about its systems and processes for compliance with anti-money laundering obligations under the AML/CTF Laws (including in its 2014-2020 annual reports and statements to the ASX), in particular in relation to its ‘VIP International Business’ and the ‘Crown Junket Program’. The alleged non-disclosures are also claimed to be breaches of continuous disclosure obligations, and to be oppressive as contrary to the interests of group members as a whole.

The claim follows the fall in the price of Crown Resorts shares following its announcement to the market on 19 October 2020 that AUSTRAC had initiated a formal enforcement investigation into Crown Melbourne’s compliance with the AML/CTF Laws.

If you have received an email or letter with details on how to register or opt out of this group proceeding, you have been identified as a potential group member. 

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 participate in any compensation recovered in the class action, you must register your claim in accordance with the Notice by 4:00pm (AEST) on 23 August 2024.
  To register, you must either:
  • complete the online registration form with Maurice Blackburn; or
  • complete the registration form in Attachment A of the Notice and submit by email or post to the address for Maurice Blackburn stated on the form.
    For further information on how to register, please refer to Option 1 on pages 5 and 6 of the Notice below.
     
• If you do not want your rights determined by the class action you must opt out by 4:00pm (AEST) on 23 August 2024.
  To opt out, you must either:
  • complete the online opt out notice; or
  • complete the opt out notice in Attachment B of the Notice and return via email or post to the address on the notice for the Registry of the Supreme Court of Victoria. 
    For further information about opting out, please refer to Option 2 on pages 6 and 7 of the Notice below.

• If you do nothing, you will remain as an unregistered group member in the class action. You will not be entitled to receive any payment or other benefit if there is a settlement on or before the commencement of the trial (which is currently scheduled to commence on 13 April 2026), unless the Court makes an order permitting you to participate. You may be given another opportunity to register in the future, but not in relation to a settlement reached on or before the commencement of the trial.
  For further information about this option please refer to Option 3 on page 7 of the Notice below. 

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

Notice to Group Members - Registration and Opt Out
Orders of Nichols J (7 June 2024) - Registration and Opt Out

Registration documents
Registration Form (online) for you to submit via Maurice Blackburn's website; or
Registration Form (PDF) download, complete and submit by email or post to Maurice Blackburn

Opt Out documents
Opt Out Notice (online) for you to submit via this link; or
Opt Out Notice (PDF) download, complete and submit by email or post to the Supreme Court of Victoria