Law firm Slater and Gordon has filed a class action against dual-listed The a2 Milk Company on behalf of investors who bought shares over a nine-month period during which the infant formula maker posted four earnings downgrades and the shares plunged 62 per cent.
The class action alleges that the $4.7 billion company engaged in misleading or deceptive conduct in breach of the Corporations Act, and breached continuous disclosure rules in posting downgrades on September 28 and December 18 last year, and February 25 and May 10, 2021.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
