Ann: Spotless Class Action settlement, page-5

First 5 Last

Share
Profile

Follow
MonkeyBear

17 Posts.

2

25/05/20

23:01

Post #: 44828680
Share

Originally posted by colinchi: ↑

Downer EDI subsidiary Spotless Group Holdings has settled a class action brought by shareholders who alleged they were deceived when Spotless downgraded its FY16 guidance in December 2015.
Slater & Gordon said on Friday the lawsuit was settled for $95 million.

"A settlement sum of $95 million is a reflection that this case was meritorious and Spotless recognised it as such," Slater & Gordon practice leader Emma Pelka-Caven said.
Downer said that the settlement was "without admission of liability" and the impact on its results for the 2020 financial year would be $35 million.
The lawsuit was brought against Spotless in May 2017, a few months before Downer Group acquired the facility services company, which provides catering, cleaning, utility services, laundry and linen and security.
The class action alleged Spotless had engaged in misleading and deceptive conduct when it provided its FY16 guidance on 25 August 2015.
The proceedings was less than six weeks away from going to a hearing in the Federal Court, Ms Pelka-Caven said.
The lead applicant was small investor Alison Court of Hobart, a retired public servant who said she was very pleased with the outcome.

Expand

Love how when scumbag directors do the dodgy it's the shareholders who foot the legal bill.
why the "F" are the former spotless pricks walking free on this!

And why didn't downer hand ball this hot potato back to them.

Last edited by MonkeyBear: 25/05/20

DOW Price at posting: $4.27 Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

HAR

Haranga jumps +7% on Lincoln acquisition

IXR

Ionic Rare Earths falls -7% as momentum slips on vague production update

Oz core inflation at 2.7%; August cut odds still unclear; ASX200 rises

NUZ

Neurizon inks $1.5M loan against R&D Tax Rebate

HotCopper Trends: Wall of quarterlies dominate; then there's Micro-X & Ionic

First 5 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last $6.82		Change -0.015(0.22%)		Mkt cap ! $4.580B

Open	High	Low	Value	Volume
$6.83	$6.84	$6.75	$4.984M	734.0K

Buyers (Bids)

No.	Vol.	Price($)
20	3304	$6.81

Sellers (Offers)

Price($)	Vol.	No.
$6.82	4544	22

View Market Depth

No.	Vol.	Price($)
7	619	6.810
26	8819	6.800
15	10407	6.790
13	15833	6.780
11	22191	6.770

Price($)	Vol.	No.
6.820	12077	29
6.830	8179	11
6.840	23915	14
6.850	7730	8
6.860	6429	5

Last trade - 15.38pm 30/07/2025 (20 minute delay)

DOW (ASX) Chart

Ann: Spotless Class Action settlement, page-5

Haranga jumps +7% on Lincoln acquisition

Ionic Rare Earths falls -7% as momentum slips on vague production update

Oz core inflation at 2.7%; August cut odds still unclear; ASX200 rises

Neurizon inks $1.5M loan against R&D Tax Rebate

HotCopper Trends: Wall of quarterlies dominate; then there's Micro-X & Ionic

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Spotless Class Action settlement, page-5

Top Stories

Haranga jumps +7% on Lincoln acquisition

Ionic Rare Earths falls -7% as momentum slips on vague production update

Oz core inflation at 2.7%; August cut odds still unclear; ASX200 rises

Neurizon inks $1.5M loan against R&D Tax Rebate

HotCopper Trends: Wall of quarterlies dominate; then there's Micro-X & Ionic

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News