Class action lawyers are preparing to serve the board and...

Class action lawyers are preparing to serve the board and auditors of Magnis Energy Technologies with letters of demands, asking that shareholders who lost millions of dollars on the battery and graphite company beremediated. Gordon Legal, which has been exploring a case against Magnis, has concluded its initial investigations into the company amid concerns its directors may have causedinvestors to experience financial loss. The Melbourne law firm is expected to contact Magnis indays as it prepares to issue court proceedings against theASX-listed company and its auditor, Hall Chadwick. Gordon Legal partner Andrew Grech said the firm had decided to proceed against Magnis on behalf of aggrieved shareholders, noting the firm was deeply troubled byrecent moves at the company.