LendLease Corporation Ltd

The Case

Therium is funding a class action on behalf of institutional shareholders of LendLease Corporation Ltd (Lendlease).

The case alleges breaches by Lendlease of its continuous disclosure obligations (and a potential further claim for misleading/deceptive conduct) under Australian securities legislation, relating principally to delays and cost overruns on a number of public infrastructure constructions projects throughout Australia which LendLease was managing.

Silhouette of worker. Construction Building casting concrete work on scaffolding.

Why It’s Significant

This class action is a consolidation of of two separate class actions brought against LendLease in the Supreme Court of New South Wales and is one of the few co-funded claims that have been pursued in that Court.

Therium’s Solution

Therium’s funding is being utilised by financial institutions who choose to use external finance to pursue their claims in preference to using their own resources.