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Laricchia v WiseTech Global Ltd

Laricchia v WiseTech Global Ltd

Case [2025] VSC 482 12 August 2025

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IN THE SUPREME COURT OF VICTORIA

Not Restricted

AT MELBOURNE

COMMERCIAL COURT

GROUP PROCEEDINGS LIST

S ECI 2024 06051

Laricchia, Mark	Plaintiff
v
WiseTech Global Limited (ACN 065 894 724)	Defendant

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JUDGE:	Croft J
WHERE HELD:	Melbourne
DATE OF HEARING:	29 July 2025
DATE OF JUDGMENT:	12 August 2025
CASE MAY BE CITED AS:	Laricchia v WiseTech Global Ltd
MEDIUM NEUTRAL CITATION:	[2025] VSC 482

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GROUP PROCEEDINGS — Costs — Application for group costs order — Costs to be calculated as a percentage of the amount of any award or settlement recovered — Whether proposed rate proportionate and reasonable — Application granted — Supreme Court Act 1986 (Vic) s 33ZDA — Fox v Westpac; Crawford v ANZ [2021] VSC 573; Allen v G8 Education Ltd [2022] VSC 32; DA Lynch v Star Entertainment Group [2023] VSC 561; 5 Boroughs NY Pty Ltd v Victoria (No 5) [2023] VSC 682; Warner v Ansell Ltd [2024] VSC 491.

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APPEARANCES:	Counsel	Solicitors
For the Plaintiff	Ms M Szydzik SC and Mr T Chalke	Phi Finney McDonald
For the Defendant	Mr K Loxley and Ms A Martyn	Jones Day

HIS HONOUR:

Introduction

This is a group proceeding (class action) issued by Writ endorsed with a statement of claim under pt 4A of the Supreme Court Act 1986 on 12 November 2024 against the defendant, WiseTech Global Limited (ACN 065 894 724) (‘WiseTech’). The proceeding arises from the acquisition of shares and long exposure equity swaps in WiseTech between 21 August 2019 and 18 February 2020 (the ‘relevant period’).

The group members claim that WiseTech’s downgrade of its FY20 EBITA forecast published to the market on 19 February 2020, which had previously been forecasted on 21 August 2019, and reaffirmed on 23 October and 19 November 2019, amounts to misleading or deceptive conduct, in contravention of s 1041H(1) of the Corporations Act 2001 (Cth); s 12DA of the Australian Securities and Investments Commission Act 2001 (Cth); and s 18 of the Australian Consumer Law, being sch 2 to the Competition and Consumer Act 2010. The group members also allege that WiseTech contravened the ASX Listing Rules by failing to disclose information material to the price or value of its shares, and by failing to notify the ASX of the likelihood that its FY20 earnings before interest, tax depreciation and amortisation (‘EBITDA’) would be materially below its previous forecast guidance. They say further that, as a consequence of the alleged conduct, the group members suffered loss as a result of a decline in WiseTech’s share price, being approximately 36.14%, which is calculated as the difference between the share price immediately before the corrective disclosure (close of trading on 18 February 2020) and the closing price on 20 February 2020.

By summons filed 2 May 2025 (‘summons’), Mark Laricchia, the plaintiff in this proceeding, is seeking a group costs order (‘GCO’) pursuant to s 33ZDA of the Supreme Court…

Grounds of appeal

[14] The appellant contends that the primary judge erred in finding that the respondent had discharged the onus of establishing the matters required under the relevant provision.

[15] It was submitted that his Honour failed to give adequate weight to the evidence of the second witness, and that the findings of fact were not reasonably open on the material before the Court.

[16] The respondent, for its part, submits that no error is disclosed, and that the conclusions reached were well within the range of outcomes available to the primary judge.

Consideration

[17] It is convenient to deal first with the question of construction, as the resolution of that issue informs the remaining grounds advanced by the appellant.

[18] For the reasons that follow, we are of the view that the appeal should be allowed in part and the matter remitted for further determination.

Continue reading Laricchia v WiseTech Global Ltd

Details

AGLC: Laricchia v WiseTech Global Ltd [2025] VSC 482
Case: [2025] VSC 482
Decision Date: 12 August 2025

CaseChat Overview and Summary

In the matter of Laricchia v WiseTech Global Ltd, the respondent, WiseTech Global Ltd, sought a group costs order from the court, pursuant to section 33ZDA of the Supreme Court Act 1986 (Vic). The dispute arose from a group proceeding involving multiple plaintiffs, all of whom had claims against the respondent. The central issue was the determination of a reasonable and proportionate rate for the calculation of group costs, based on a percentage of any award or settlement recovered.

The court was required to consider the legal principles established in previous cases such as Fox v Westpac, Crawford v ANZ, Allen v G8 Education Ltd, DA Lynch v Star Entertainment Group, and Warner v Ansell Ltd. These cases provided guidance on the factors to be considered in assessing whether the proposed rate for group costs was fair and reasonable. The court examined the complexity and value of the claims, the resources expended by the plaintiffs' legal team, and the potential impact on the plaintiffs if the proposed rate was not approved.

After careful consideration of the evidence and legal precedents, the court concluded that the proposed rate for group costs was proportionate and reasonable. The court found that the rate took into account the nature of the claims, the efforts made by the plaintiffs' legal team, and the overall benefits to the plaintiffs. Accordingly, the application for a group costs order was granted. The court ordered that the group costs be calculated as a percentage of any award or settlement recovered, in accordance with the proposed rate.

Orders