The statements below are Slater and Gordon’s account of this case. They reflect allegations or the firm’s position and have not been determined by a court unless a settlement or judgment is noted.
About This Case
Change to company name
Before 19 September 2024, WebBeds shares traded under the name Webjet Ltd and the ASX code WEB.
From 20 September 2024, Web Travel Group Ltd (ASX: WEB) and Webjet Ltd (ASX: WJL) commenced trading as separate companies in the ASX. Purchases of WJL shares are not relevant to this class action. If you acquired only WJL shares during the Relevant Period, you are not a group member in this class action.
Further, on 28 August 2026, Web Travel Ltd changed its name to WebBeds Group Ltd. Its ASX code remains WEB.
On 29 July 2026, Slater and Gordon, on the instructions of the lead plaintiff, filed a shareholder class action in the Supreme Court of Victoria against WebBeds Group Ltd (ASX:WEB) (Formerly Web Travel Group Ltd) ( WebBeds).
The class action is brought on behalf of investors who it is alleged suffered financial loss after buying WebWebBeds shares between 21 March 2024 and 13 October 2024 (inclusive).
The claim concerns WebBeds’ FY25 earnings guidance and the class action alleges that WebBeds:
engaged in misleading or deceptive conduct; and failed to comply with its continuous disclosure obligations, in breach of relevant provisions of the Australian Consumer Law, the Corporations Act 2001 (Cth) and the ASIC Act 2001 (Cth) and causing financial loss to shareholders.
If you purchased shares in WebWebBeds at any point between 21 March 2024 and 13 October 2024 (inclusive), you may be a group member in this class action and can register your interest via the above link.
Group members
You may be a group member in this class action if you acquired shares in WebBeds Group Ltd (ASX:
WEB) between
21 March 2024 and 13 October 2024 (inclusive).
If you would like to participate and be updated on the progress of the class action please register your interest via the above link.
The form will ask you to provide:
details of the date, volume and price of all acquisitions (purchases) and disposals (sales) of WebBeds shares between 21 March 2024 and 13 October 2024 (inclusive); the number of shares you already held at the start of trade on 21 March 2024; and documentary evidence of those transactions.
Please send us an email at webtravel@slatergordon.com.au if you have any questions.
There will never be any out of pocket costs associated with your participation in the class action.
What is the claim about?
At its strategy day on 21 March 2024, WebBeds told the market via an announcement to the ASX that:
it would grow its Total Transaction Value ( TTV) from approximately $4 billion in FY24 to $5 billion in FY25, and ultimately to $10 billion in FY30; and the margin it earned on its TTV (its TTV margin) would ‘ settle in the short term at c.mid–7% ’.
Following this announcement, WebBeds’ share price increased by approximately 9.2%.
On 14 October 2024, WebBeds issued a trading update to the ASX in which it announced that:
its TTV Margin for 1H25 was ‘ expected to be c.6.4% ’; and due to ‘ changing geographic and business mix ’, its TTV Margin was now ‘ expected to stabilise at c.6.5% ’.
Following this announcement, WebBeds’ share price declined by more than 35%.
The class action alleges that WebBeds engaged in misleading or deceptive conduct and/or breached its obligations of continuous disclosure between 21 March 2024 and 13 October 2024 (inclusive), in contravention of relevant sections of the ASIC Act 2021 (Cth), Australian Consumer Law, Corporations Act 2001 (Cth) and the ASX Listing Rules, by:
representing that it would achieve a TTV margin that would settle in the short term at ‘c.mid-7%’; and failing to disclose it could not reasonably achieve that TTV margin while pursuing its growth strategy.
The class action further alleges that investors who purchased WebBeds shares between 21 March 2024 and 13 October 2024 (inclusive) suffered loss or damage, because had WebBeds complied with its legal obligations, those investors would not have purchased WebBeds shares at the prices and in the volumes they did, or in some cases, would not have purchased the shares at all.
Funding and legal costs
Slater and Gordon is acting on the basis that the lead plaintiff will seek a Group Costs Order, pursuant to which:
Slater and Gordon’s legal costs would be calculated as a percentage of the amount of any damages award or settlement that may be recovered in the group proceeding; the Group Costs Order and relevant percentage would be subject to approval by the Court before those costs were paid; the liability for that payment would be shared by the lead plaintiff and all group members in the group proceeding;.
Slater and Gordon would be liable for any costs payable to the defendant in the proceeding that the Court may order; and if an order is made by the Court that security for costs be provided to the defendant, Slater and Gordon will provide this security.
The percentage paid under a Group Costs Order is determined by the Court and the Court would have the power to adjust the percentage at any time over the course of the group proceeding, including following a successful outcome.
Under no circumstances will group members face any out-of-pocket costs in relation to the class action, whether the case is successful or not.
Source: Slater and Gordon
How to Register
If you purchased WebBeds shares between 21 March 2024 and 13 October 2024 (inclusive), you may register your interest by clicking Register below
Source: Slater and Gordon
Frequently Asked Questions
What is a class action?
A class action (also called a group proceeding) is a type of legal proceeding in which one person, the lead plaintiff, brings a claim on behalf of a wider group of people, called group members, whose claims arise out of the same or similar conduct. It allows those claims to be decided together in a way that is more efficient and cost-effective for group members and for the Court.
How do I register my interest?
If you wish to register your interest in the class action, you may do so by registering here. If you have registered your interest in the class action, you will receive group member updates from Slater and Gordon when there are developments in the class action. By registering your interest, you are: asking Slater and Gordon to keep you updated about the class action; and asking us to assist you with any future Court-ordered registration process if one is ordered.
Will I have to pay anything? What will the class action cost me?
You will not be exposed to any out-of-pocket costs as a result of your participation in the class action. Slater and Gordon is acting on the basis that the lead plaintiff will seek a Group Costs Order, pursuant to which Slater and Gordon’s legal costs would be calculated as a percentage of the amount of any damages award or settlement that may be recovered in the group proceeding. The Group Costs Order would be subject to the approval of the Court.
How long will the class action take?
Generally, most class actions tend to take between three and five years to resolve, although each class action is different and the time required for each class action will vary.
I purchased shares in Webjet, am I eligible for this class action?
You may be a group member in this class action if you acquired shares in WebBeds Group Ltd (ASX: WEB) between 21 March 2024 and 13 October 2024 (inclusive). Prior to 19 September 2024, WebBeds Group Ltd was previously known as Webjet Ltd and subsequently Web Travel Group Ltd. If you purchased shares before 19 September 2024, the name of the entity listed on trading confirmations may be Webjet Ltd, although the ASX code will still be listed as WEB. Those shares – that is, WEB shares – are relevant for the WebBeds Class Action. On 20 September 2024, Webjet Ltd commenced trade on the ASX as a separate company (ASX: WJL). Purchases of shares in WJL are not relevant to the class action, and if you only purchased WJL shares, you are not a group member in this class action.
Source: Slater and Gordon
Disclaimer: This information is sourced from Slater and Gordon. It is provided for general information only and does not constitute legal advice. Always verify details with the original source before taking any action.
Legal disclaimer: Information on this page is general in nature and does not constitute legal advice. ClaimBar tracks class action settlements and provides updates. Always seek professional legal advice for your specific circumstances.
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