Ardent Leisure Group Class Action

Settlement

The Ardent Leisure class action was in relation to ordinary shares acquired between 17 June 2014 and 25 October 2016.

On 23 August 2023, the parties to this class action reached agreement to settle the proceeding.  The settlement is for a lump sum payment of $26 million (including interest and costs, without admission of liability).

The settlement approval 

The Federal Court of Australia has approved deductions from the settlement sum for legal fees, litigation funding and expenses, insurance, and administration costs of distributing the settlement sum to eligible Group Members. A copy of the orders made on 30 November 2023 can be found here.

The remainder of the final settlement sum has now been distributed to eligible Group Members.

Relevant documents

• Amended Originating Application
• Further Amended Statement of Claim
• Amended Defence of the First to Third Respondents
• Amended Defence of the Fourth Respondent
• Court approved settlement notice
• Notice of objection (Word version, PDF version)

For any enquiries, please contact [email protected].