Brambles (ASX:BXB) is appealing an Australian Federal Court judgment in class-action proceedings brought by shareholders who acquired stakes in the company between August 2016 and February 2017, according to a Wednesday filing with the Australian bourse.
The shareholders alleged that the company made misleading guidance disclosures during that period. The court previously dismissed several claims but upheld some related to underlying profit growth forecasts for fiscal 2017.
Brambles said it has insurance arrangements in place.
The company's shares gained 1% in recent Wednesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments