Brambles Limited Tumbles on Class Action Acknowledgment

  • Aug 10, 2018 AEST
  • Team Kalkine
Brambles Limited Tumbles on Class Action Acknowledgment

Acknowledges Class Action: Brambles Limited’s (ASX: BXB) stock fell 2.412% on August 10, 2018, 3:39 PM AEST, after the company acknowledged the media reports noting that Slater & Gordon and litigation funder IMF Bentham had announced a potential case against BXB regarding its FY17 guidance issued on 18 August 2016. The company has today been served with class action proceedings filed in the Federal Court.

These proceedings were filed by Slater & Gordon on behalf of certain shareholders who had acquired an interest in BXB shares between 18 August 2016 and 17 February 2017. There was claim against BXB to mislead or display deceptive conduct and continuous disclosure obligations as per the Corporations Act 2001 (Cth) relating to Brambles FY17 guidance. Meanwhile, BXB stock has fallen 0.20% in three months as on August 09, 2018.

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