ATTENTION: QUINTIS LIMITED SHAREHOLDERS
16/06/2022
This is an important communication to shareholders in Quintis Limited who are group members in the Davis Class Action.
The Davis Class Action is being conducted in the Federal Court of Australia by Piper Alderman on behalf of Mr Geoffrey P Davis and Mr Geoffrey W Davis (Davis Applicants) against Quintis Limited (Quintis), Mr Frank Wilson (the former Managing Director of Quintis) and Ernst & Young (EY) (the auditors of Quintis).
The Davis Applicants have entered into a settlement agreement with Quintis (Settlement), important details of which are set out in the notice linked below.
SETTLEMENT AND MEDIATION REGISTRATION NOTICE
The Settlement relates to Quintis only. The Davis Applicants’ claims against Mr Frank Wilson and EY are continuing.
The Court has ordered a SETTLEMENT AND MEDIATION REGISTRATION NOTICE be issued to group members of the Davis Class Action. The SETTLEMENT AND MEDIATION REGISTRATION NOTICE contains information regarding the Settlement and the upcoming Mediation with the other respondents of the Davis Class Action, Mr Wilson and EY, to allow you to work out whether you agree or disagree with the Settlement and wish to register for the Mediation.
Please carefully read the SETTLEMENT AND MEDIATION REGISTRATION NOTICE which also includes important information about your legal rights, including your right to object to the Settlement if you wish to do so, and whether you will be entitled to obtain compensation from any settlement of the Davis Class Action if you do not, and have not already, registered your details with Piper Alderman.
The Settlement is subject to Court approval, and the Court has listed the matter for a hearing on 1 July 2022 to consider the approval of the Settlement. If you wish to object to the Settlement you should take the action set out in the SETTLEMENT AND MEDIATION REGISTRATION NOTICE by no later than 4:30pm on 28 June 2022.
Group members wishing to obtain compensation from any settlement of the Davis Class Action were required to register their details with Piper Alderman by 5 August 2022.
The Davis Applicants intend to seek an order that if you have not already registered, retained Piper Alderman and/or signed a funding agreement with the litigation funder LCM, and you do nothing by 5 August 2022, you will remain a Group Member of the Davis Class Action and will be bound by any judgment or settlement agreement in the proceeding, but will not be entitled to any share of any monetary compensation that is gained from any settlement that occurs before 4 weeks prior to the first date of the final hearing.
If you have any questions about the SETTLEMENT AND MEDIATION REGISTRATION NOTICE or the information contained in it, you should email Piper Alderman, the solicitors for the Davis Applicants, at [email protected] or call +61 2 9253 9999 and ask to speak to Jordana Yencken-Nissenbaum.