A four-way fight to lead a shareholder class action against Star Entertainment could be on the cards after a fourth law firm filed a representative proceeding alleging the company’s share price plummeted following revelations of alleged money-laundering breaches.
Star Entertainment is facing a third shareholder class action alleging it failed to disclose material information about its compliance with anti-money laundering and counter-terrorism financing regulations, after being slapped with $200 million in fines by state gambling regulators.
United Petroleum has been hit with a class action on behalf of franchisees who allege they suffered loss when the petrol giant installed loss-making Pie Face stores at its franchise sites.