Worley Considers Appeal as Federal Court Upholds Shareholder Class Action Related to 2013 Guidance
MT Newswires Live
May 29
Worley (ASX:WOR) is considering a potential appeal of an Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance, according to a Friday filing with the Australian bourse.
The court on Thursday ruled that the company misled investors when it issued 2013 earnings guidance, upholding an earlier appeal filed by the shareholders, and ordered Worley to pay the applicant's legal costs.
The company said it has "continued to strengthen its governance frameworks over many years," adding that it will "consider this judgment and its position on any appeal."
Worley shares fell 1% in recent Friday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.