There are two class actions being brought against OZ Minerals....

There are two class actions being brought against OZ Minerals. One by Slater & Gordon, the other by IMF with Maurice Blackburn acting as their lawyers.

Basically the cases are being brought by shareholders who purchased shares between 28 Feb 2008 and 27 November 2008. As I understand it, the allegation is that OZL failed to disclose material information relating to the refinancing agreement entered into on 28th Feb to re-finance two facilities. 3 days after the refi agreement was entered into OZL announced the Oxiana/Zinifex merger, publishing a scheme of arrangement booklet, including the info about the planned re-fi, treating it as a non-current liability.
It was not until 3 December when queried by ASX that OZL fully disclosed the material information, 2 days after the OZL shares were suspended.

There are other issues but thats the main thrust of the case. That shareholders who purchased, based on the information contained in the merger document were misled.