Slater and Gordon Lawyers is investigating a class action on behalf of investors who purchased shares in Star Entertainment Group, which operates casinos in Sydney, Brisbane and the Gold Coast.
The class action investigation follows revelations in the media about Star’s conduct and the adequacy of its internal controls.
The Age, Sydney Morning Herald and 60 Minutes
have reported allegations of suspected money laundering, organised crime, large-scale fraud and foreign interference at Star’s Australian casinos.
Class Actions Practice Group Leader Emma Pelka-Caven said her team was now investigating whether shareholders had suffered losses as a consequence of materially incorrect information being available to the market.
“We consider that the information released may give rise to a claim on behalf of shareholders against the company,” Ms Pelka-Caven said.
“At the time they purchase shares in a listed company, investors are entitled to assume that all of the material information relevant to its financial position has been disclosed.”