Case Spotlight: Brambles

IndustryContainers and Packaging
ClaimsBreach of continuous disclosure
obligations, and misleading and
deceptive conduct
Participation DeadlineJune 29, 2018 (Soft registration deadline)
Relevant PartiesMaurice Blackburn (law firm) / Harbour Fund III, L.P. (funder)

Slater & Gordon (law firm) / IMF Bentham Limited (funder)


On August 18, 2016, Brambles published its Annual Report promoting a 2017 sales and profit guidance which boasted sales growth of 7%-9% and profit growth of 9%-11%. Brambles reaffirmed this guidance when it published its 1Q17 trading update on October 20, 2016 and then again in its Annual General Meeting on November 16, 2016.

On January 23, 2017, Brambles reported that it did not expect to meet its previous sales and profit guidance, downgrading its sales and profit growth expectations for 1H17 to 5% and 3% respectively. As a result, share prices dropped 16% following this update.

On February 20, 2017, when Brambles published its 1H17 results, Brambles downgraded its sales and profit guidance for a second time, revising its sales and profit growth expectations to 5% and 0% respectively. Share prices dropped an additional 10% as a result of these revisions.

The organizers are currently investigating whether or not Brambles lacked a reasonable basis for its initial 2017 sales and profit guidance.


This Australian case has two competing actions with slightly different relevant period as well as funding terms. For more information on the specific funding terms please contact your FRT Representative or email us at

  • Maurice Blackburn/Harbour Fund: In this case law firm Maurice Blackburn (“MB”) is working with litigation funder Harbour Fund III, LP (“HF3”). For this particular case, MB has provided us with a case summary including the relevant period, affected securities, as well as the merits of the case. MB’s action has a relevant period of October 20, 2016 – February 20, 2017. MB has a soft registration deadline of June 29, 2018.
  • Slater & Gordon/IMF Bentham: In this case law firm Slater & Gordon (“S&G”) is working with litigation funder IMF Bentham (“IMF”). For this particular case, S&G has provided us with a case summary including the relevant period, affected securities, as well as the merits of the case. S&G’s action has a relevant period of August 17, 2016 – February 16, 2017. S&G has a soft registration deadline of June 29, 2018.


The size of your claim depends on how the court ultimately assesses losses. In Australia, the measure of losses is not settled and courts and organizers may apply one of several methodologies to determine them.

As an initial assessment, at your request, FRT can give you an estimate of the potential size of your claim based on information provided by the organizers in conjunction with our proprietary algorithms. Additionally, with your written permission, FRT can also anonymously submit your trade data for a further loss analysis under local law.


If you wish to register now, you must submit the law firm retainer and/or litigation funding agreement. FRT will provide these documents upon request or, if authorized, may complete them on your behalf. If you have compensable damages and would like to discuss your rights with the organizers, FRT can arrange for that discussion.

Learn More

FRT has issued the following alerts to FRT Global Group Litigation clients:

  • Preliminary Alert: October 20, 2017
  • Full Alert: November 6, 2017
  • Update Alert: April 23, 2018

For more information on this case or FRT Global Group Litigation service, please contact us at

About FRT


Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

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