As to damages sought:$115 million as below:ARISTOCRAT...

As to damages sought:
$115 million as below:


ARISTOCRAT SHAREHOLDER CLASS ACTION GETS GO AHEAD
Leading shareholder class action law firm Maurice Blackburn Cashman today won the right to represent shareholders in a class action against Aristocrat Leisure Ltd. in the Federal Court.

In the Federal Court today, Judge Margaret Stone announced that Aristocrat would not oppose Maurice Blackburn Cashman’s orders to amend the definition of a “class” meaning the matter will now proceed.

In October 2005, Judge Stone ruled that the class action against Aristocrat could not proceed in the form proposed because of the Federal Court’s definition of what constituted a “class”. To conform to the Court’s definition, Maurice Blackburn Cashman has agreed to remove the criteria that participants in the action be represented by the firm. This has ensured that the action complies with the provisions of the Federal Court Act and avoids shareholders having to pursue their legal rights individually or to formally “opt in” to the process.

Maurice Blackburn Cashman Chairman Bernard Murphy said today’s announcement was important for the shareholders of Aristocrat Leisure who have suffered losses as a result of the company’s non disclosure of material information to the market.

“This is a terrific outcome for the shareholders of Aristocrat who are entitled to recover their losses through the instigation of a class action. Today’s decision allows us to proceed with that action and ensure that those shareholders who have suffered losses avoid having to pursue their rights individually at a significant cost to them, said Mr Murphy.

The class action alleges Aristocrat misled shareholders by not keeping them fully informed before announcing earnings downgrades that wiped $A2 billion from the company’s value in 2003. The action claims damages of $115 million for losses when shareholders sold their stock.

Maurice Blackburn Cashman is representing shareholders who bought Aristocrat shares between September 20, 2002 and May 26 2003. Aristocrat’s share price fell dramatically from $5.19 on September 17, 2002 to $0.89 cents on May 28, 2003.