THE SHAREHOLDERS TAKING LAW FIRM SLATER AND GORDON TO COURT
MAURICE BLACKBURN LAWYERS' CLASS ACTION:
* More than 3,000 shareholders signed up and open to thousands more
* Losses total more than $250m but claim could vastly exceed that
* If successful, could be largest shareholder class action recovery in Australia
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* Claim period March 2015 to February 2016
* Filed in Federal Court Wednesday
* Funded by International Litigation Funding Partners
POTENTIAL CLASS ACTION BY ACA LAWYERS:
* Finalising investigation; intends to commence proceedings
* Funded by listed Australian funder JustKapital Litigation Finance and London-based Woodsford Litigation Funding
* Claim period August 12, 2014 to February 28, 2016
WHAT ARE THE CLAIMS OVER?
* Slater and Gordon's alleged failure to disclose to the market in timely manner information about its financial performance and prospects
* Mainly related to its $1.2b UK acquisition of Quindell's professional services division
* Share price dropped almost 95pct between April 2015 and February 2016, wiping more than $2b off the value of the company
* Firm recorded a $1b loss in 2015/16, largely due to $879.5m in writedowns mostly linked to its UK business
