Class action served on Slater and Gordon Slater and Gordon Limited (ASX: SGH) has, today, been served with legal proceedings filed in the Federal Court on behalf of an open class of Slater and Gordon shareholders who purchased Slater and Gordon shares during the period from 30 March 2015 to 24 February 2016.
Maurice Blackburn, one of Slater and Gordon’s major competitors, is acting for the class. Slater and Gordon will closely analyse and vigorously defend the claim and has engaged Arnold Bloch Leibler to assist the Company in that defence.
Shareholder class actions typically take two to three years to reach a final hearing. Andrew Grech, Slater and Gordon’s Group Managing Director, said “Slater and Gordon has engaged external legal advisors to act for it and will vigorously defend the claim. The class action will not affect the day to day conduct of Slater and Gordon’s client matters. Our clients can rest assured that Slater and Gordon and its lawyers will continue to work hard to offer them access to affordable, world class legal services. Our management team will remain focused on executing our performance improvement program across the business to improve profitability and cash flow and reduce debt, in line with previous announcements made by Slater and Gordon.”
SGH Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
