class action, page-4

The Slater & Gordon claim is on their website:

"The claim alleges that CNP and CER failed to adequately disclose the financial risk to which the entities were exposed when financing the acquisition of the US listed shopping trust, New Plan Excel Realty, in April 2007. The acquisition required CNP and CER to assume billions of dollars of debt which had to be refinanced during or before December 2007.

It is alleged that both CNP and CER breached Australian Accounting Standards and engaged in misleading conduct, when they misclassified this debt as non-current in their 30 June 2007 financial reports. It is further alleged that CNP and CER then failed to disclose the existence of these liabilities at all until 17 December 2007 and, even then, did not disclose the full extent of those liabilities until 28 February 2008."