Also compare management to those of GIO, Visy, Amcor, AWB and Multiplex; all who are being sued through class action for losses attributable to misleading conduct by the company.
and Aristocrat, who are being sued by "by people who contend they were misled by Aristocrat in its announcements about a number of South American deals that went pear-shaped. There were deals in Peru and in Brazil, and then a big Colombian deal that fell through at the end of 2002."
"The argument is that the company was not upfront in recognising revenue that was not real, on deals that were never properly consummated, and because of that its profits were overstated and because of that the share price was higher than it would have been."
"We argue that the share price fell by more than $2.47 a share, but we claim only the $2.47 because there are some movements which are not related to the misconduct."
ask Maurice Blackburn Solicitors about the market for class action by shareholders against directors who mislead the market with false claims.
CST Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
