Mesoblast Shareholder Class Action
Omni Bridgeway is co-funding a shareholder class action against Mesoblast Limited (ASX:MSB) (Mesoblast) on behalf of persons (Group Members) who acquired Mesoblast shares or related securities between 22 February 2018 and 17 December 2020 inclusive. The Full Group Member definition is set out below.
On 19 October 2022, the Federal Court ordered that two class actions against Mesoblast be consolidated into one set of consolidated proceedings known as Paul Tibor Horsky and Oil Surveillance Australia Pty Ltd ATF D.A Lynch Superfund v Mesoblast Limited (ACN 109 431 870) (VID268/2022) (Consolidated Class Action).
Omni Bridgeway is co-funding Phi Finney McDonald and William Roberts (the Lawyers) as joint solicitors on the record for the Consolidated Class Action alongside ICP Funding Pty Ltd and Investor Claim Partners Pty Ltd (together, ICP).
Causes of Action
Broadly, the Consolidated Class Action alleges that Mesoblast contravened its continuous disclosure obligations and engaged in misleading or deceptive conduct throughout the Claim Period in relation to both the SR-aGVHD application and COVID-19 application of R-L.
Participants in the class action may be entitled to compensation for losses arising out of Mesoblast’s alleged breaches of its continuous disclosure obligations and/or by Mesoblast engaging in misleading and deceptive conduct.
Opt Out and Registration
The Mesoblast Class Action has been the subject of an opt out and registration process, which was ordered by the Federal Court of Australia.
Further information regarding the opt and registration process is available in the Opt Out Notice here.
Current Status
A shareholder class action (Federal Court of Australia Proceedings number VID268 of 2022) against Mesoblast Limited (ACN 109 431 870) has settled, subject to Court approval.
The proposed settlement has been reached without admission of liability by Mesoblast. The Federal Court of Australia has ordered that an important notice be issued to group members in the class action in relation to the upcoming settlement approval hearing at 09:30 am on 13 December 2024 and their ability to participate in the proposed settlement (if approved by the Court). Further information regarding the Notice of Proposed Settlement is available here.
As such, registrations to participate in the Mesoblast Class Action are now closed.
Further Information
If you would like any further information about the Mesoblast Class Action you can contact the Omni Bridgeway Client Liaison Team by email on [email protected] or free call 1800 016 464.