Ian Weatherlake (as Trustee for the Ian Weatherlake Family Trust) v Paladin Energy Limited

Paladin Energy

Limited, a uranium mining company based in Western Australia that held interests in mines located in Australia, Canada and Namibia. The proceeding is brought on behalf of persons who acquired an interest in shares in Paladin Energy between 27 June 2024 and 25 March 2025 (inclusive).

The class action alleges that Paladin Energy made misleading representations and failed to comply with its continuous disclosure obligations as an ASX- listed company, in breach of relevant provisions of the Corporations Act 2001 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth).

This conduct is alleged to have caused the plaintiff and group members to suffer loss, including by paying a higher price for shares than they otherwise would have paid had Paladin Energy complied with its obligations.

Initially, two overlapping group proceedings were brought on behalf of group members against Paladin Energy, being:

a proceeding commenced by Sujata Chaudhri (S ECI 2025 03814) (‘Chaudhri proceeding’); and a proceeding commenced by Ian Weatherlake (as Trustee for the Ian Weatherlake Family Trust) (S ECI 2025 02037) (‘Weatherlake proceeding’).

On 28 October 2025, the Honourable Justice Watson ordered that the Chaudhri proceeding be permanently stayed and the Weatherlake proceeding continue.