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Shares in Henderson Group plc (ASX:HGG) have fallen to the worst performer of the top 200 in morning trade after the asset manager announced it’s being sued by investors.
Henderson has been served with legal proceedings by a majority of sophisticated investors in Fund II, relating to a loss-making infrastructure investment.
The company says it’s confident it has no legal liability to investors in the fund and will vigorously defend the proceedings.
Media reports say the claim could be worth up to $685 million.
Shares in Henderson Group had fallen 4.47 per cent this morning and were trading at $1.71.
Henderson Group reported a net profit of $20.7 million in the 2011 financial year.
