Brambles (BXB) Shareholder Class Action

The Brambles Class Action is brought on behalf of shareholders who acquired shares in Brambles Limited (ASX: BXB) between the period of 18 August 2016 and 17 February 2017 (Relevant Period).

The class action alleges that shareholders who purchased shares in the Relevant Period suffered losses after Brambles’ share price declined in response to announcements on 23 January and 20 February 2017 that the Company would not meet its FY17 sales and profit guidance. Brambles share price declined by approximately 16% in response to the 23 January 2017 announcement and approximately 10% in response to the 20 February 2017 announcement.

The Brambles Class Action is a consolidation of two proceedings. The Applicants are Holly Southernwood and William Vincent Kidd and Mary Agnes Collum as Trustees for The Magness-Bennett Superannuation Fund (the Joint Applicants). The Joint Applicants are represented by Echo Law and Maurice Blackburn. The Brambles Class Action is being jointly funded by litigation funders Omni Bridgeway Ltd (Omni Bridgeway) and Harbour Fund III, L.P. (Harbour). Click the register now button below to register via the Omni Bridgeway website now.

Register Now

Register for the Brambles Class Action by clicking the button above. It does not cost any money to register, and you will never be 'out of pocket' as a result of participating in this class action.

Update

An initial trial of the Brambles Class Action was heard between 8 August 2022 and 9 September 2022 (Trial) and the parties delivered closing submissions before the Court on 26 and 27 October 2022.

On 10 April 2026, the Court delivered its decision, which amounted to a finding that the applicants were eligible for compensation arising from losses sustained through the purchase of Brambles shares in the period 16 November 2016 to 22 January 2017 (inclusive).

The parties have been asked to provide proposed orders to the Court by 1 May 2026, which will include answers to the common questions binding all group members.

Claim Period

The Brambles Class Action has been brought on behalf of persons who:

  1. Entered into a contract to acquire an interest in ordinary shares in Brambles between 18 August 2016 and 17 February 2017 (inclusive); and

  2. Suffered loss or damage by the conduct of Brambles as alleged in the Applicants’ Amended Consolidated Statement of Claim.  

Allegations

On 18 August 2016, Brambles provided guidance to the market for its 2017 financial year (FY17) of sales growth of 7% to 9% and profit growth of 9% to 11%.

Brambles reiterated this guidance on 20 October 2016 (its first quarter trading update), and on 16 November 2016 at its AGM.

On 23 January 2017, Brambles downgraded its guidance to sales growth of 5% and profit growth of 3% for the first half of FY17 and announced that sales and profit growth for FY17 were expected to be below the guidance previously provided.

On 20 February 2017, Brambles announced its results for the first half of FY17 and in doing so, revised its FY17 guidance to sales growth around 5% and profit growth of 0%. 

The class action alleges that between 18 August 2016 and 17 February 2017, Brambles made representations to investors that were misleading and/or lacked a reasonable basis, and breached its obligations of continuous disclosure to the market in relation to the representations made about its expected growth.

Participation

If you purchased Brambles shares between 18 August 2016 and 17 February 2017 (inclusive), you can register for the Brambles Shareholder Class Action by clicking the “Register Now” button below. In doing so, you will receive regular updates from Echo Law as the class action progresses, and will receive notifications about any steps that may be required of you in future.

If you have already registered your interest in the class action (including if you have already registered through Maurice Blackburn or Slater and Gordon and/or a funding agreement with Omni Bridgeway or Harbour) or you have previously opted out of the class action, there is nothing further you need to do at this stage.

The Court made orders that persons who wished to receive a share of any settlement reached in the class action prior to 14 days after the conclusion of trial were register their claims by 4.00pm AEST on 26 July 2022. However, as no settlement was reached within 14 days of the conclusion of the trial, group members who had not previously registered can register to participate in the class action.

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Frequently Asked Questions

  • Subject to some limited exceptions, you are a group member if you:

    1. Entered into a contract to acquire an interest in fully paid ordinary shares in Brambles during the period between 18 August 2016 and 17 February 2017 (inclusive); and

    2. Suffered loss or damage by reason of the conduct of Brambles, as alleged in the Applicants’ Amended Consolidated Statement of Claim.

    If you are unsure about whether you are a group member, please contact Echo Law via email at enquiries@echolaw.com.au or by telephone on 1800 571 241 or +61 3 7046 3565.

  • Yes.

    Previously, the Federal Court of Australia made orders that persons who wished to receive a share of any settlement reached in the class action (prior to 14 days after the conclusion of trial) were to register their claims by 4.00pm AEST on 26 July 2022.

    However, as no settlement was reached within 14 days of the conclusion of the trial, it is possible for additional group members to register to participate in the class action.

    Register via the Omni Bridgeway website here.

  • In order to register, group members will be asked to provide:

    1. Their name and contact details;

    2. Details of the owner of the securities (if the owner is different to the name of the person registering, for example you bought shares on behalf of another person or on behalf of a self-managed superannuation fund); and

    3. Information about all shares they acquired and disposed of in Brambles between 18 August 2016 and 17 February 2017 (inclusive).

  • No. If you have already registered your claim then there is nothing further you need to do at this stage.

  • Yes. If you acquired Brambles shares between 18 August 2016 and 17 February 2017 (inclusive) you can register even if you no longer hold those shares.

  • No. Group members will never have to pay any costs out of their own pocket to participate in this class action – regardless of whether the class action is successful or unsuccessful.

  • The proceeding is being funded by litigation funders Omni Bridgeway and Harbour. This means you will not have to pay any money out of your own pocket for legal fees or related expenses, and you will not be responsible for paying any costs if the class action is unsuccessful.

    In return for funding the proceeding, and if the class action is successful, a funding commission for the litigation funders will be deducted from the amount of compensation recovered for group members before distribution. In other words, the funders will receive a commission for covering the costs of the litigation but will receive that payment before any money is distributed to group members. These costs will be assessed by the Court to ensure any deductions from the amount of any compensation are fair and reasonable.

    Importantly, these costs will never exceed the amount of compensation to which you may otherwise become entitled (meaning you will never have to ‘reimburse’ the funders).

  • Echo Law now act for the Joint Representative Applicant, Ms Holly Southernwood. On 5 July 2024, Justice Murphy made orders substituting Echo Law for Slater and Gordon Lawyers, as the solicitors for Ms Southernwood.

    If you previously registered with Slater and Gordon, we confirm the change in solicitors does not affect your participation in the class action or your Funding Agreement with litigation funder Omni Bridgeway.

    If you previously registered with Slater and Gordon, there is nothing further you need to do at this stage.

  • In August 2018, Slater and Gordon and Maurice Blackburn filed separate proceedings against Brambles in the Federal Court of Australia. On 8 May 2019, the Federal Court of Australia ordered that the two class actions be consolidated.

    The consolidated proceeding is known as Holly Southernwood, and William Vincent Kidd & Mary Agnes Collum as Trustees for the Magness-Bennett Superannuation Fund v Brambles Limited (No VID 972/2018) (Brambles Class Action) and was being conducted jointly by Maurice Blackburn and Slater & Gordon on behalf of group members and the lead applicants.

    Echo Law now acts for the Joint Representative Applicant, Ms Holly Southernwood. Maurice Blackburn continues to act for the Joint Applicant William Vincent Kidd & Mary Agnes Collum as Trustees for the Magness-Bennett Superannuation Fund.

Enquiries

If you wish to register your interest in this class action, you can do so by clicking the ‘Register Now’ button above.

You can also contact Echo Law to discuss the class action by sending an email to enquiries@echolaw.com.au or calling Echo Law on (03) 7046 3565.