Operator News
Australia – Shareholders take action against Star’s lack of ethics
By Phil - 30 March 2022
Shareholders in Star Entertainment are taking action against the Australian casino group claiming it failed to run the business ethically or responsibly.
Represented by Australian solicitors Slater and Gordon they have accused Star of making misleading or deceptive representations about its compliance with regulatory issues.
Slater and Gordon Class Actions Senior Associate Ben Zocco, said: “For the last six years, Star has held itself out to be a model casino operator that took its obligations seriously and followed not only the letter of the law, but the spirit of the law.”
“Star insisted that it took compliance seriously and ran its business ethically, honestly and with integrity. Our investigations to date, in addition to the extraordinary evidence revealed so far in the Bell Inquiry, suggests that they did everything but.
“When investors purchase shares in a listed company, they are entitled to assume that all of the material information relevant to its financial position had been disclosed to the market. Our case is that Star failed to do so, and, therefore, investors are entitled to compensation for their losses.”
