Brambles shares: Class action judgment update
The Federal Court partially upheld a shareholder class action against Brambles, regarding disclosures in late 2016 and early 2017.Summary
Brambles Ltd (ASX: BXB) has received a judgment in a long-running shareholder class action. The Federal Court upheld some claims relating to disclosures about Underlying Profit and revenue growth between 16 November 2016 and 23 January 2017, but dismissed most other claims, including those related to medium-term FY19 targets. The potential financial impact remains uncertain, as the total quantum of damages is yet to be determined. Brambles is reviewing the 1,200-page judgment and considering its legal and financial options, including potential appeals, while also assessing its insurance arrangements. The company has committed to keeping the market informed about the financial risk and mitigation options. Over the past year, Brambles shares have increased by 12%, slightly underperforming the S&P/ASX 200 Index's 16% rise.
(Source：The Motley Fool Australia)