Billabong to pay $45m to settle class action, page-52

The original announcement of the CA was reported, and explained that SGH not funding
http://www.smartcompany.com.au/busi...don-to-launch-class-action-against-billabong/
"The class action is being funded by Comprehensive Leading Funding"


Ironically, the CA is remarkably similar to what is being alleged against SGH on a larger scale:

"The class action will claim Billabong engaged in misleading and deceptive conduct and failed to comply with its continuous disclosure obligations.
It will allege Billabong gave earnings guidance to investors for the financial year 2012 that lacked reasonable grounds.
On August 19, 2011, Billabong forecast that it would achieve strong earnings growth in financial year 2012.
A few months later, the board of the surfwear company withdrew that guidance and revealed its earnings would suffer a substantial fall.
As a result, Billabong’s share price dropped by more than 50% in the days following."