Trading Period

The Applicant commenced a class action on his own behalf and on behalf of all persons who acquired ordinary shares in Sirtex:

  • on or after 24 August 2016; and
  • who were at the commencement of trading on 9 December 2016 still a holder of any of those acquired shares (“the relevant period”)

On 24 August 2016, Sirtex forecasted “double digit dose sales growth [of SIR-Spheres] to continue in the 2017 financial year (“FY2017”). The Applicant alleges that Sirtex had no reasonable grounds for making that representation.

Issue of Statement of Claim

On 9 February 2017 the statement of claim was filed by Portfolio Law on behalf of the Applicant.

Sirtex Defence

On 21 July 2017, Sirtex filed its defence to the statement of claim filed and served by the Applicant.

Lodgement of Security for Costs

On 19 July 2017 the Court ordered that the Applicant provide security for the Respondent’s costs.  Soon thereafter, the sum of $725,000 was paid into Court.

Expert Evidence

By 31 March 2018, the Applicant had filed and served the expert evidence on which it intends to rely at trial.

By 31 July 2018, the Respondent had filed and served their expert evidence upon which it intends to rely at trial.

By 31 August 2018, The Applicant had filed and served all expert evidence in reply upon which it intends to rely at trial.

Mediations

On 23 January 2019 a mediation was held without result.

A further mediation is scheduled for 10 April 2019 in advance of the trial.

Trial

On 29 April 2019 the trial will commence and run for approximately 4 weeks.