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ASX RELEASE
27 November 2019
Bellamy's settles Class Action Proceedings
Bellamy's Australia Limited (ASX: BAL) (the Company) has reached an agreement to settle
the two previously announced shareholder class action proceedings relating to historical
market disclosures that occurred in 2016. The proceedings were filed on 23 February 2017
and 7 March 2017 in the Federal Court of Australia.
The settlement of both claims, which is without any admission of liability, is subject to Federal
Court approval.
The total settlement amount to settle both proceedings, $49.7 million inclusive of interest and
costs, is fully insured, and will have no impact on the Company’s financial results at any time.
The settlement was a commercial decision made in the best interests of the Company and its
shareholders and enables the Company to remain focused on executing against its strategies
without the distraction of litigation.
-ENDSCompany Inquiries, please contact:
Melinda Harrison
Company Secretary
+613 6332 9200
Media inquiries, please contact:
John Hurst
Teneo
+61 418 708 663 |
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