IMF Announcement
On Thursday 10 February 2011, IMF (Australia) Ltd (IMF) announced that it proposes to fund claims of certain current and former Downer EDI Limited (Downer) shareholders against Downer.
Downer has not been contacted by IMF or any lawyers appointed to act on behalf of those shareholders. Downer has not been informed by IMF of IMF's estimate of the value of the claims.
Downer notes that IMF states it will fund the claims subject to specific factors including a level of participation acceptable to IMF.
Downer does not currently have sufficient information to make any meaningful assessment of the potential claims.
Downer will vigorously defend any action alleging it engaged in misleading or deceptive conduct or that it failed to comply with its continuous disclosure obligations.
smh article, page-2
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