On 31 March 2025, Phi Finney McDonald filed a class action against Mineral Resources Limited (Mineral Resources) and its Managing Director, Mr Christopher Ellison, in the Supreme Court of Victoria.
The class action is brought on behalf of investors that acquired ordinary shares and equity swaps during the period 31 March 2019 to 14 November 2024 (inclusive) (Claim Period).
Allegations
The claim alleges that Mineral Resources engaged in misleading conduct and failed to disclose material information in relation to its business practices, standards of corporate governance, and the scope and nature of transactions with related parties, including Mr Ellison.
It alleges that the Mineral Resources share price was artificially inflated by the company’s misconduct and that investors suffered loss and damage as a result. Further, that some investors would not have purchased Mineral Resources shares had the alleged wrongdoing not occurred.
Registration of Interest and Information
Investors that acquired ASX:MIN shares and equity swaps during the period between 31 March 2019 to 14 November 2024 (inclusive) are invited to register their interest in the potential claim to receive further advice and information about the class action on a confidential and privileged basis, including:
- information in relation to the class action;
- preliminary loss estimate based on the investor’s relevant trading data.
You can register your interest at the following link:
A copy of the Group Proceeding Summary Statement for the class action is available HERE.
You can also request to obtain further information about the class action by emailing minresshareholders@phifinneymcdonald.com.