Mesoblast Shareholder Class Action

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

On 13 December 2024, the Federal Court of Australia made orders approving the settlement of the Mesoblast Class Action. 

William Roberts Lawyers were appointed as the Fund Administrator of the Settlement Scheme.

Key information regarding the Settlement was made available in the Notice of Proposed Settlement, which was approved by the Court and issued to all Group Members on 13 September 2024. The Court-ordered deadline to object to or submit a request to participate in the Settlement was 11 October 2024.

As such, registrations to participate in the Mesoblast Class Action are now closed. Further communications will be sent to Registered Group Members in due course regarding distribution of the settlement.

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.

Neither the funding of the class action by an Omni Bridgeway entity (“Omni Bridgeway”) nor the services provided by OBL in support of the class action are provided under  an authorisation provided by any Australian Financial Services Licence ("AFSL"); rather OBL and Omni Bridgeway provide services and funding (respectively) to the class action on the basis that litigation funding schemes are an exempt financial product pursuant to the Corporations Regulations 2001. For the avoidance of doubt, your objectives, financial situation and needs have not been taken into account and you should consider whether the class action is appropriate for you taking any appropriate legal, financial or taxation advice you may require. Please note that neither OBL nor Omni Bridgeway is a member of the Australian Financial Complaints Authority.