Myer has been given until May 18 to settle a class action from shareholders.
The multimillion-dollar case concerns missed profit forecasts in 2015, where shareholders claim they lost money.
The action has been put forward by TPT Patrol, a trustee for the Amies Superannuation Fund.
It is alleged shareholders suffered loss and damage due to Myer's statements regarding its 2014 fiscal results.
This included providing profit guidance without a reasonable basis.
Myer and TPT Patrol will go into mediation, settle the case or go to trial.
A three-week hearing has been confirmed for August.