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PIF CLASS ACTION – UPDATE

December 10, 2014

On 8 December 2014 the Federal Court of Australia approved the settlement of the PIF Class Action.
The Court held that the settlement was fair and reasonable and in the interests of Group Members.
The Court has appointed Administrators (Robert Johnson and Robert Wyld of
Johnson Winter & Slattery Lawyers) to receive the settlement moneys and to make
distributions to registered Group Members. Assuming there are no appeals of the Court’s approval, the Administrators will receive the settlement moneys in late February 2015 and distributions to registered Group Members are expected well within the first half of 2015.

The Administrators will be writing to registered Group Members this calendar year with further details of the distribution process.