Quintis Limited Class Action

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Class Action brought by Mr Geoffrey P Davis and Mr Geoffrey W Davis as the trustee of the G. P. Davis Superannuation Fund (Davis Fund) on behalf of certain shareholders of Quintis Ltd (Administrators Appointed) (Receivers and Managers Appointed) (QIN) against QIN, Mr Frank Wilson (a director of QIN) and QIN’s auditors, Ernst & Young (EY)

This is the online registration portal for members of a class action being conducted by the trustee of the Davis Fund on their own behalf and on behalf of certain shareholders of QIN against QIN, Mr Frank Wilson and EY (Davis Fund Action).

Please note, if you are planning to register more than one person using this portal, you will need to close and re-open your internet browser before submitting the second registration.

Members of the Class

The members of the class for the Davis Fund Action are those shareholders who acquired QIN shares listed on the Australian Securities Exchange (ASX) at any time in the period 31 August 2015 to 15 May 2017 (Claim Period) and who suffered loss by reason of the alleged conduct described below.

The alleged conduct is that in the Claim Period QIN, Mr Wilson and EY made representations regarding the financial position of QIN in relation to the financial statements for FY2015 and FY2016 that were misleading or deceptive, or false or misleading, in breach of the Corporations Act (Act), because the representations were untrue or without reasonable basis. It is also alleged that EY negligently conducted its audit of the financial statements for FY2015 and FY2016.

The Davis Fund Action will be conducted by Piper Alderman with financial support from LCM Operations Pty Limited (LCM), a subsidiary of the listed litigation funder Litigation Capital Management Limited (ASX: LCA).

Other Class Actions against QIN and Mr Wilson

In September 2017 Mr Andrew Wyma filed a class action on his own behalf and on behalf of QIN shareholders who acquired QIN shares in the period 30 November 2016 to 10 May 2017 and who suffered loss by reason of the alleged failure by QIN to disclose material matters to the market, as pleaded in that claim (Wyma Action).

In November 2017 Excel Texel Pty Limited filed a class action against QIN and Mr Wilson on its own behalf and on behalf of shareholders who acquired QIN shares in the period 1 July 2015 to 10 May 2017 and who suffered loss by reason of the alleged misrepresentations made by QIN and failures to disclosure material matters by QIN and Mr Wilson pleaded in that claim (Excel Texel Action).

For more information concerning the scope of the different class actions and your position if you have already entered into a funding agreement, please view our FAQ page here.

Registration for Davis Fund Action

You are invited to register your contact information and details of your acquisition of QIN shares in the Claim Period with Piper Alderman.

Class members who choose to register their information with Piper Alderman will be asked to enter into a Representative Proceeding Funding Agreement - Member (Funding Agreement) with LCM.

You do not have to enter into a Funding Agreement to be a part of the Davis Fund Action (see our FAQ page here for further information).

A copy of the Funding Agreement is available to view here.

Class members who proceed to register their information will be asked to electronically accept the Funding Agreement within this portal. A copy of the electronically accepted Funding Agreement will be sent to you via email once your registration is complete.

You are urged to seek your own legal advice if you do not understand the terms or the effect of any aspect of the Funding Agreement.

The Funding Agreement will be legally binding once the electronically accepted Funding Agreement is sent to you.

However, there is a “cooling off” period which allows you to terminate the Funding Agreement within 21 days following your acceptance.

Registration will be easier if you have the following information ready prior to starting the registration process

  • An email account which you check regularly; and
  • Details of your acquisition of QIN shares in the Claim Period (including any opening balance and any sales in that Period).

If you have any questions regarding the Davis Fund Action or registration, please see our FAQ page Frequently Asked Questions or contact us with your questions by email at QINShareholder@piperalderman.com.au.

RegisterNow

Piper Alderman and LCM have established policies and procedures for managing conflicts of interest, client confidentiality and privacy.  Any conflict of interest (actual apparent, perceived or potential) will be notified to claimants in a timely manner.  Copies of the relevant Conflicts Policies can be provided upon request.

Please click the links to view the Piper Alderman Privacy Policy or LCM Operations Pty Ltd Privacy Policy.

Register for Quintis Limited Class Action by clicking here.