A2 Milk to pay $75m in class action settlement
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A2 Milk will pay $75 million to settle a class action lawsuit in Australia regarding misleading disclosures about its China performance.Summary
A2 Milk has reached an 'in principle' agreement to pay A$62 million (approximately $75 million) to settle class action claims in Australia. The claims alleged that A2 Milk engaged in misleading and deceptive conduct through its market disclosures in 2020 and 2021, specifically concerning its performance in China. The shareholder claims centered around alleged losses resulting from these misleading disclosures. The agreement brings an end to the Australian legal proceedings, resolving the dispute over the company's past reporting.
(Source：Nbr)