Phi Finney McDonald has filed a class action against Origin Energy Limited in the Supreme Court of Victoria on behalf of investors that acquired shares and equity swaps during the period 20 October 2021 to 31 May 2022 (inclusive) (Claim Period).
Opt out and Registration
On 22 July 2026, the Supreme Court of Victoria made orders that notice be given to group members of their rights to opt out of the class action or register their claims against Origin.
A group member in the Origin Shareholder Class Action is a person or entity who during the period from 20 October 2021 to 31 May 2022 (inclusive) (Claim Period) either:
- acquired an interest in ordinary shares in Origin Energy Limited (ASX:ORG) (Origin Shares); or
- acquired long exposure to Origin Shares by entering into equity swap confirmations in respect of Origin Shares (Origin Swaps).
Linked below is the copy of the Opt Out and Registration Notice issued by the Court.
Opt Out and Registration Notice issued by the Court
The Class Deadline to opt out of or register in the Origin Shareholder Class Action expired at 4pm AEDT on 16 October 2026.
If you did not register or opt out by the Class Deadline, you will remain a group member in the class action but, subject to further order of the Court, you will not be entitled to obtain any benefit arising from any settlement reached by the parties at any point up until two weeks before the initial trial, which is listed to commence on 3 April 2028.
If you have any questions regarding the matter or the registration process, please read the Answers to Frequently Asked Questions for Group Members or contact us by emailing originshareholders@phifinneymcdonald.com.
Background
During FY22, Origin made statements to investors in Origin as to the future expected financial performance of the company’s Energy Markets business in FY22 and FY23. Specifically, it represented to the market on several occasions that it anticipated that:
- in FY22, Energy Markets would post EBITDA of between $450-600m;
- in FY23, Energy Markets would post EBITDA of between $600-850m.
On 1 June 2022, Origin downgraded its FY22 earnings guidance to $310-460m and withdrew its FY23 earnings guidance for its Energy Markets business, citing difficulties with its coal supply and volatility in the commodities market. By close of trade, Origin’s share price had declined approximately 14%.
Allegations
The claim alleges that Origin (a) breached its continuous disclosure obligations by failing to disclose material information about its capacity to achieve its publicly issued guidance and (b) misled the market insofar as it lacked reasonable grounds for its Energy Markets forecasts.
The class action alleges that investors who acquired Origin shares during the Claim Period are entitled to compensation for loss and damage as they paid more for those shares than they would have paid as a consequence of Origin’s conduct. The class action also alleges that some group members would not have purchased Origin shares if it had complied with its obligations.
The plaintiff has filed a statement of claim and Origin has filed a defence, which are available under the key documents below.
Group Costs Order
On 11 March 2026, the Honourable Justice Waller of the Supreme Court of Victoria ordered a group costs order rate of 35% for settlement or judgment sums up to $42.5m and 25% for settlement or judgment sums above $42.5m.
This means that if there is a settlement or an award of damages or compensation following the trial, subject to further order, this relevant rate will be deducted from the settlement figured in respect of legal costs payable to Phi Finney McDonald before any distribution is made to the plaintiff and group members.
A copy of the Group Proceeding Summary Statement for the class action is available HERE
You can also obtain further information about the proceeding by emailing originshareholders@phifinneymcdonald.com.