Class action says UGL should have forecast $129M loss on Ichthys LNG project

Class Actions 2019-05-21 8:00 pm By Miklos Bolza | Sydney

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UGL knew a loss for its Ichthys power project was “looming” as early as February 2014, according to amended pleadings in a shareholder class action, which claims the engineering firm should have forecast a loss of $129 million for the project.

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