Spotless Class Action
If you purchased Spotless Holdings Limited (ASX:SPO) shares on or after 24 February 2015 and held some or all of those shares until after 2 December 2015, you may be eligible to join a proposed class action against Spotless in relation to forecasts provided to the market by Spotless in 2015.
ACA Lawyers has been investigating allegations that Spotless had no basis for growth forecasts of increased in EBITDA and NPAT that it made or re-iterated on 24 February 2015, 25 August 2015 and 22 October 2015.
On 2 December 2015, Spotless announced that EBITDA would be flat year on year and NPAT approximately 10% below FY15. Spotless’s share price dropped by approximately 40% following its 2 December 2015 announcement.
Investor Claim Partner (ICP), an Australian based claim management and funding services provider, is funding the proposed class action. You can read ICP’s media release about the proposed Spotless class action here. ICP also has further information about the proposed class action here.
If you purchased Spotless shares on or after 24 February 2015 and before 2 December 2015, register at https://www.icp.net.au/register-spotless/ to find out more information about the proposed class action and to be sent a funding agreement and retainer. Registering does not impose any obligation on you to proceed. If you do wish to participate in the class action you need to sign and return the funding agreement and retainer.
Click here to register for the proposed Spotless class action.