Piper Alderman launches shareholder class action over Dreamworld tragedy

Piper Alderman launches shareholder class action over Dreamworld tragedy

Theme park operator Ardent Leisure (ASX: ALG) has announced to the market it was served with a shareholder class action yesterday in relation to the 2016 Dreamworld tragedy.

After the market closed yesterday the Sydney-headquartered group reported the proceedings had been filed by law firm Piper Alderman in the Federal Court of Australia on behalf of people who purchased ALG shares in the 28 months leading up to the event.

"Ardent strongly denies any contraventions as alleged and believes the proceedings to be without merit," the company said.

"Ardent intends to vigorously defend the proceedings."

The law firm is set to release a statement today on the matter.

Related story: Dreamworld tragedy was simply a matter of time

More to come....

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Advertisement

Related Stories

Viceroy shorts Tyro amid EFTPOS outage chaos

Viceroy shorts Tyro amid EFTPOS outage chaos

As Tyro Payments (ASX: TYR) scrambles to repair EFTPOS terminals ...

Hazzard: regional quarantine not for NSW

Hazzard: regional quarantine not for NSW

Following yesterday's proposal from Queensland Premier Annast...

Tones and I co-manager Lemon Tree Music dancing into 2021

Tones and I co-manager Lemon Tree Music dancing into 2021

At the end of 2019 the founders of Lemon Tree Music, David Morgan...

Michael Hill triples pre-COVID annual profit in six months

Michael Hill triples pre-COVID annual profit in six months

Shares in jewellery retailer Michael Hill International (ASX: MHJ...