Court proceedings filed against Centro Retail Group Friday, May 09, 2008; Posted: 03:17 AM
Sydney, May 09, 2008 (RWE via COMTEX) -- CEROF | news | PowerRating | PR Charts -- (RWE Australian Business News) IMF (Australia) Ltd (ASX:IMF) reports that representative proceedings on behalf of Centro Retail Group (ASX:CER) stapled security holders against CER were filed today.
The claims relate to alleged misleading and deceptive conduct and breaches by CER of its continuous disclosure obligations between August 7 2007 and February 15 2008.
On April 30 2008, IMF announced the maximum claim value was $100m. Since then, it says the claim value has increased materially.
IMF plans to provide an updated estimate of the claim value in its next quarterly Case Investment Report.
rweabn.com.au
Ends.
Cheers, Pie :-)
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
