UGL Limited Class Action

This is a class action on behalf of investors who acquired shares in UGL Limited (now UGL Pty Ltd) (“UGL”) (ASX Code: UGL) during the period from 8 August 2014 until the close of trading on 5 November 2014. The class action was commenced on 18 December 2017.

Cause of Action

The claim alleges that between 8 August 2014 and 5 November 2014  UGL breached its obligations of continuous disclosure, in contravention of the Corporations Act 2001 (Cth), by failing to disclose that UGL’s ‘Ichthys power project’ was running behind schedule and was subject to increased project costs. Further details of the proposed cause of action are available by contacting IMF using the details below. 

How much will it cost to be part of the class action?

The class action is being run on a no win – no fee basis with costs paid by IMF pursuant to a funding agreement. Under the terms of the funding agreement, you will not have to pay any fees unless the class action claims are successfully resolved.  IMF will pay the other side’s costs if the class action is unsuccessful and the claims are lost. 

How do I find out more about the class action?

To obtain an information pack regarding the class action, you can register by clicking the green button on the right side of this webpage.  Alternatively you can contact the IMF Client Liaison Team by email on [email protected] or by calling 1800 016 464.