Mayweathers have commenced a class action in the Federal Court of Australia against Plus500AU Pty Ltd and Plus500 Limited (the Respondents). CASL is providing funding for the costs of pursuing the action.
The action is brought on behalf of persons who used the online trading platform operated by Plus500AU Pty Ltd to trade in Contracts For Difference during the period 24 November 2017 to 28 March 2021, and who lost money as a result (Group Members).
Compensation for Group Members is sought on the basis that the Respondents were negligent and engaged in misleading and deceptive and unconscionable conduct in how Contracts For Difference were marketed and sold.
At this stage, no deadline has been set for class members to register to participate, as the Court has not yet made orders in respect of opt-out and registration.
Class members will be distributed an opt-out and registration notice once the relevant orders have been made. A copy of the notice will also be uploaded to this webpage, along with details of the registration deadline.
If you believe you may be a class member, you can in the meantime submit an expression of interest on the link below.